Lemonade (NYSE:LMND) Given New $44.00 Price Target at Piper Sandler

Lemonade (NYSE:LMND) had its target price boosted by stock analysts at Piper Sandler from $25.00 to $44.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential downside of 5.54% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Jefferies Financial Group lowered their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a report on Wednesday. Finally, Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. 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 company’s stock. According to data from MarketBeat.com, Lemonade has an average rating of “Hold” and an average price target of $29.67.

Lemonade Stock Performance

LMND opened at $46.58 on Thursday. The stock has a market capitalization of $3.33 billion, a PE ratio of -15.32 and a beta of 1.68. Lemonade has a one year low of $14.03 and a one year high of $48.15. The business’s 50 day moving average price is $21.71 and its 200 day moving average price is $19.07.

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

Insider Activity

In other Lemonade news, Director Maria Angelidis-Smith purchased 15,042 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the completion of the purchase, the director now directly owns 33,554 shares in the company, valued at approximately $1,114,999.42. This represents a 81.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction dated 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 directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,604 shares of company stock worth $1,655,085. 12.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently added to or reduced their stakes in the business. Axiom Advisory LLC raised its holdings in Lemonade by 1.6% during the third quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after purchasing an additional 850 shares in the last quarter. Blue Trust Inc. boosted its stake in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after acquiring an additional 1,879 shares in the last quarter. Van ECK Associates Corp boosted its stake in Lemonade by 12.1% in the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after acquiring an additional 1,915 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lemonade by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after purchasing an additional 2,196 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Lemonade by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after purchasing an additional 2,582 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.