Lemonade (NYSE:LMND) Price Target Raised to $60.00

Lemonade (NYSE:LMND) had its price objective raised by JMP Securities from $40.00 to $60.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other analysts have also commented on the stock. Piper Sandler upped their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday. Jefferies Financial Group decreased their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.43.

Lemonade Trading Down 2.1 %

Shares of NYSE:LMND opened at $49.28 on Friday. Lemonade has a twelve month low of $14.03 and a twelve month high of $52.22. The firm has a market cap of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The company has a 50 day moving average of $22.98 and a 200-day moving average of $19.54.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same quarter last year, the firm posted ($0.88) EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts forecast that Lemonade will post -3.05 EPS for the current year.

Insider Buying and Selling

In other Lemonade news, Director Maria Angelidis-Smith bought 18,512 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $27.42 per share, with a total value of $507,599.04. Following the completion of the purchase, the director now directly owns 18,512 shares in the company, valued at $507,599.04. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock worth $3,783,045 in the last quarter. 12.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lemonade

Several large investors have recently made changes to their positions in LMND. Barclays PLC raised its holdings in shares of Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after buying an additional 65,144 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in Lemonade during the 3rd quarter worth approximately $614,000. State Street Corp grew its holdings in Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after purchasing an additional 3,403 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Lemonade during the 3rd quarter worth $1,571,000. Institutional investors own 80.30% of the company’s stock.

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.