Lemonade (NYSE:LMND) Given New $15.00 Price Target at BMO Capital Markets

Lemonade (NYSE:LMND) had its target price increased by BMO Capital Markets from $13.00 to $15.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler increased their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $23.00 to $42.00 in a report on Wednesday. Jefferies Financial Group cut their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Price Performance

NYSE LMND traded down $0.28 on Thursday, hitting $50.08. 438,912 shares of the stock were exchanged, compared to its average volume of 1,751,673. The business’s fifty day moving average is $22.36 and its 200 day moving average is $19.29. Lemonade has a 52 week low of $14.03 and a 52 week high of $52.22. The company has a market capitalization of $3.58 billion, a PE ratio of -16.57 and a beta of 1.68.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same quarter last year, the business earned ($0.88) EPS. The company’s revenue was up 19.3% compared to the same quarter last year. Analysts predict that Lemonade will post -3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Timothy E. Bixby sold 2,050 shares of the firm’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 transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,182,200.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,892 shares of company stock valued at $3,783,045 in the last 90 days. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LMND. Blue Trust Inc. increased its position in shares of Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Lemonade during the second quarter valued at $180,000. Finally, Bristlecone Advisors LLC purchased a new position in shares of Lemonade in the third quarter worth $218,000. 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.