Lemonade (NYSE:LMND) Issues Quarterly Earnings Results

Lemonade (NYSE:LMND) released its quarterly earnings data on Tuesday. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.14, Briefing.com reports. The business had revenue of $119.10 million for the quarter, compared to the consensus estimate of $114.13 million. Lemonade had a negative net margin of 55.12% and a negative return on equity of 31.29%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.95) earnings per share. Lemonade updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Lemonade Price Performance

NYSE LMND traded up $0.05 on Wednesday, reaching $17.28. 2,012,053 shares of the company’s stock traded hands, compared to its average volume of 1,775,284. Lemonade has a 12 month low of $10.27 and a 12 month high of $24.81. The stock has a 50-day simple moving average of $16.84 and a 200 day simple moving average of $16.37. The stock has a market cap of $1.22 billion, a PE ratio of -5.23 and a beta of 1.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, March 4th. Morgan Stanley increased their price target on shares of Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Wednesday, February 28th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Monday, April 15th. Piper Sandler reissued a “neutral” rating and issued a $17.00 price target on shares of Lemonade in a report on Thursday, February 29th. Finally, TD Cowen started coverage on shares of Lemonade in a report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.11.

Insider Buying and Selling at Lemonade

In other Lemonade news, CFO Timothy E. Bixby purchased 10,000 shares of Lemonade stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $165,400. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.70% of the company’s stock.

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.