Analysts Set Lemonade, Inc. (NYSE:LMND) Price Target at $28.17

Lemonade, Inc. (NYSE:LMND) has earned an average rating of “Reduce” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $28.17.

A number of research firms recently issued reports on LMND. Piper Sandler reduced their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods cut their price target on Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley downgraded Lemonade from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 1,899 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the sale, the insider now owns 87,609 shares of the company’s stock, valued at $2,960,308.11. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 422,177 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $30.17, for a total value of $12,737,080.09. Following the sale, the insider now directly owns 10,015,984 shares in the company, valued at approximately $302,182,237.28. The trade was a 4.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,744,890 shares of company stock valued at $87,413,986 over the last quarter. Corporate insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMND. Nisa Investment Advisors LLC increased its holdings in shares of Lemonade by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after buying an additional 500 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Lemonade during the 4th quarter worth approximately $40,000. Union Bancaire Privee UBP SA purchased a new position in Lemonade during the 4th quarter worth approximately $67,000. KBC Group NV purchased a new position in Lemonade during the 4th quarter worth approximately $80,000. Finally, Watershed Private Wealth LLC purchased a new position in Lemonade during the 4th quarter worth approximately $286,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Trading Up 0.1%

NYSE LMND opened at $30.94 on Thursday. The business’s 50 day moving average is $30.13 and its two-hundred day moving average is $34.96. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -10.18 and a beta of 2.13. Lemonade has a 12-month low of $14.03 and a 12-month high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.67) EPS. Equities analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

About Lemonade

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.