BMO Capital Markets Increases Lemonade (NYSE:LMND) Price Target to $15.00

Lemonade (NYSE:LMND) had its price objective raised by BMO Capital Markets from $13.00 to $15.00 in a report published on Thursday morning,Benzinga reports. BMO Capital Markets currently has an underperform rating on the stock.

LMND has been the subject of a number of other research reports. Jefferies Financial Group lowered their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a research note on Wednesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lemonade presently has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Stock Down 2.1 %

LMND opened at $49.28 on Thursday. The company has a market cap of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The firm’s 50-day moving average price is $22.98 and its 200-day moving average price is $19.52. Lemonade has a 52-week low of $14.03 and a 52-week high of $52.22.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.88) EPS. On average, research analysts anticipate that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other news, COO Adina Eckstein sold 23,644 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at $9,482,650. This represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value 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 approximately $4,953,108.48. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,892 shares of company stock valued at $3,783,045. 12.50% of the stock is owned by company insiders.

Institutional Trading of Lemonade

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after acquiring an additional 3,403 shares during the period. Quest Partners LLC lifted its holdings in Lemonade by 1,647.6% during the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Lemonade during the second quarter valued at $180,000. Finally, Bristlecone Advisors LLC acquired a new stake in shares of Lemonade in the third quarter valued at about $218,000. 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.