Lemonade’s (LMND) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Lemonade (NYSE:LMND) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

A number of other brokerages have also recently weighed in on LMND. Morgan Stanley boosted their price target on Lemonade from $13.00 to $14.00 and gave the stock an underweight rating in a research report on Wednesday, February 28th. Piper Sandler reaffirmed a neutral rating and issued a $17.00 price target on shares of Lemonade in a research report on Thursday, February 29th. Keefe, Bruyette & Woods boosted their price objective on Lemonade from $16.00 to $18.00 and gave the stock a market perform rating in a research report on Monday, March 4th. Finally, TD Cowen started coverage on Lemonade in a research report on Wednesday, January 10th. They set a market perform rating and a $17.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $17.11.

Lemonade Price Performance

Shares of NYSE LMND opened at $15.73 on Monday. The business’s 50-day moving average price is $16.85 and its two-hundred day moving average price is $16.01. Lemonade has a one year low of $10.27 and a one year high of $24.81. The company has a market capitalization of $1.10 billion, a P/E ratio of -4.61 and a beta of 1.89.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, February 27th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.18. Lemonade had a negative return on equity of 31.29% and a negative net margin of 55.12%. The firm had revenue of $115.50 million for the quarter, compared to the consensus estimate of $111.71 million. During the same quarter in the previous year, the company posted ($0.93) earnings per share. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. On average, equities analysts anticipate that Lemonade will post -3.07 EPS for the current year.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $16.54 per share, with a total value of $165,400.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $165,400. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several large investors have recently modified their holdings of LMND. MetLife Investment Management LLC bought a new stake in shares of Lemonade in the 1st quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Lemonade in the 4th quarter valued at approximately $30,000. Tyler Stone Wealth Management bought a new stake in shares of Lemonade in the 2nd quarter valued at approximately $34,000. Captrust Financial Advisors grew its position in Lemonade by 91.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,909 shares of the company’s stock worth $35,000 after acquiring an additional 913 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in Lemonade during the 2nd quarter worth approximately $45,000. 80.30% of the stock is currently 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.