Lemonade (NYSE:LMND) Sets New 12-Month High – What’s Next?

Lemonade, Inc. (NYSE:LMND)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $85.20 and last traded at $82.92, with a volume of 776590 shares trading hands. The stock had previously closed at $81.36.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LMND. Citizens Jmp increased their target price on Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. Citigroup restated a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. Finally, Morgan Stanley set a $85.00 price objective on shares of Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Lemonade currently has a consensus rating of “Hold” and an average target price of $63.14.

Lemonade Stock Performance

The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -34.06 and a beta of 2.13. The firm has a fifty day moving average price of $66.63 and a 200-day moving average price of $54.06.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.21. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The business had revenue of $194.50 million during the quarter, compared to the consensus estimate of $185.06 million. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. Lemonade’s revenue for the quarter was up 42.4% compared to the same quarter last year. On average, sell-side analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, Director Debra Schwartz sold 4,200 shares of Lemonade stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the transaction, the director owned 21,567 shares in the company, valued at $1,802,785.53. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Adina Eckstein sold 7,919 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $81.15, for a total value of $642,626.85. Following the transaction, the chief operating officer directly owned 188,391 shares of the company’s stock, valued at approximately $15,287,929.65. The trade was a 4.03% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,725 shares of company stock valued at $12,264,465. 12.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bayforest Capital Ltd acquired a new position in Lemonade during the 3rd quarter worth approximately $25,000. SVB Wealth LLC acquired a new position in shares of Lemonade during the first quarter worth $26,000. Strategic Advocates LLC bought a new position in shares of Lemonade in the 3rd quarter valued at $33,000. NewEdge Advisors LLC bought a new position in shares of Lemonade in the 1st quarter valued at $35,000. Finally, Estabrook Capital Management acquired a new stake in shares of Lemonade during the 2nd quarter valued at $44,000. 80.30% of the stock is owned by institutional investors.

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.