Keefe, Bruyette & Woods Downgrades Lemonade (NYSE:LMND) to Underperform

Lemonade (NYSE:LMND) was downgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a report issued on Thursday, FinViz reports. They presently have a $21.00 price objective on the stock, up from their prior price objective of $18.00. Keefe, Bruyette & Woods’ price objective points to a potential downside of 28.27% from the stock’s previous close.

Several other research firms also recently issued reports on LMND. Jefferies Financial Group cut their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. Finally, Piper Sandler raised their price target on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.83.

Lemonade Stock Up 16.9 %

NYSE LMND opened at $29.28 on Thursday. The firm has a market cap of $2.09 billion, a PE ratio of -9.63 and a beta of 1.68. Lemonade has a 52 week low of $13.72 and a 52 week high of $29.41. The company has a 50 day moving average price of $18.34 and a 200 day moving average price of $17.83.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter last year, the firm earned ($0.88) EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts anticipate that Lemonade will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

Several hedge funds and other institutional investors have recently bought and sold shares of LMND. Mirae Asset Global Investments Co. Ltd. boosted its position in Lemonade by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock worth $1,853,000 after purchasing an additional 9,107 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Lemonade during the first quarter valued at $214,000. Susquehanna Fundamental Investments LLC purchased a new position in Lemonade in the first quarter valued at $477,000. Headlands Technologies LLC acquired a new position in shares of Lemonade in the first quarter worth about $231,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Lemonade by 18.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after acquiring an additional 2,710 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.