Lemonade (NYSE:LMND) Price Target Raised to $18.00

Lemonade (NYSE:LMND) had its price target upped by research analysts at Piper Sandler from $17.00 to $18.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 3.81% from the company’s previous close.

Several other research firms have also recently weighed in on LMND. Morgan Stanley upped their price target on shares of Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a research note on Monday, April 15th. TD Cowen started coverage on Lemonade in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.22.

Lemonade Stock Performance

LMND opened at $17.34 on Thursday. Lemonade has a twelve month low of $10.27 and a twelve month high of $24.81. The firm’s fifty day moving average is $16.85 and its two-hundred day moving average is $16.38. The firm has a market cap of $1.22 billion, a PE ratio of -5.54 and a beta of 1.82.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.14. Lemonade had a negative return on equity of 29.69% and a negative net margin of 48.14%. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $114.13 million. During the same quarter last year, the firm posted ($0.95) earnings per share. Lemonade’s revenue was up 25.1% compared to the same quarter last year. Equities analysts forecast that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Activity

In related news, CFO Timothy E. Bixby purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at $165,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Lemonade during the 4th quarter worth approximately $30,000. Asset Management One Co. Ltd. lifted its holdings in Lemonade by 48.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock valued at $50,000 after purchasing an additional 1,409 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Lemonade by 236.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock worth $85,000 after purchasing an additional 3,687 shares during the period. Quantbot Technologies LP acquired a new position in shares of Lemonade in the third quarter valued at $108,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Lemonade in the third quarter valued at about $117,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.