Lemonade (NYSE:LMND) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Lemonade (NYSE:LMND) posted its earnings results on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.07, Briefing.com reports. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 31.86%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.88) EPS. Lemonade updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Lemonade Price Performance

NYSE LMND traded up $0.38 on Friday, reaching $24.15. 3,895,756 shares of the company’s stock traded hands, compared to its average volume of 1,613,576. The stock has a market cap of $1.72 billion, a PE ratio of -7.94 and a beta of 1.67. Lemonade has a 12 month low of $13.16 and a 12 month high of $25.98. The stock has a 50-day simple moving average of $18.11 and a 200 day simple moving average of $17.69.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LMND shares. JMP Securities restated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a research note on Tuesday, October 15th. Piper Sandler upped their price objective on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group dropped their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and a consensus price target of $21.33.

Lemonade Company Profile

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.