Lemonade (NYSE:LMND) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Lemonade (NYSE:LMND) from an equal weight rating to an overweight rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have $85.00 price target on the stock, up from their previous price target of $80.00.

Several other research analysts have also recently weighed in on LMND. Cantor Fitzgerald upped their price target on shares of Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Citigroup reissued an “outperform” rating on shares of Lemonade in a research note on Friday, January 16th. Citizens Jmp set a $80.00 price objective on Lemonade in a report on Monday, November 24th. Keefe, Bruyette & Woods boosted their target price on Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research note on Tuesday, February 24th. Finally, Wolfe Research set a $44.00 price target on shares of Lemonade in a research note on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.75.

Lemonade Trading Up 0.1%

LMND stock opened at $64.49 on Tuesday. Lemonade has a 1-year low of $24.31 and a 1-year high of $99.90. The firm has a market cap of $4.93 billion, a PE ratio of -28.53 and a beta of 2.12. The business’s 50-day moving average price is $69.12 and its two-hundred day moving average price is $66.40.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.During the same period in the prior year, the company earned ($0.42) earnings per share. The firm’s quarterly revenue was up 53.3% compared to the same quarter last year. On average, analysts forecast that Lemonade will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 3,571 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total value of $187,477.50. Following the completion of the sale, the insider owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. This represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel A. Schreiber sold 9,108 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $99.04, for a total transaction of $902,056.32. Following the transaction, the chief executive officer owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. The trade was a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 160,300 shares of company stock worth $14,796,026. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bayforest Capital Ltd bought a new stake in Lemonade in the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Strategic Advocates LLC bought a new stake in Lemonade in the 3rd quarter valued at $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Lemonade during the 4th quarter valued at $33,000. Finally, Torren Management LLC acquired a new stake in Lemonade during the 4th quarter valued at $35,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.