Lemonade (NYSE:LMND) Posts Quarterly Earnings Results

Lemonade (NYSE:LMND) announced its quarterly earnings data on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 30.34% and a negative net margin of 44.24%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) EPS. Lemonade updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Lemonade Price Performance

Lemonade stock traded up $5.02 during trading hours on Thursday, reaching $23.77. The company had a trading volume of 9,614,102 shares, compared to its average volume of 1,602,727. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -8.40 and a beta of 1.77. Lemonade has a 12-month low of $10.64 and a 12-month high of $25.40. The company has a 50-day moving average price of $17.87 and a 200 day moving average price of $17.59.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LMND. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Jefferies Financial Group decreased their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.17.

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.