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

Lemonade (NYSE:LMND) had its price target hoisted by BMO Capital Markets from $13.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential downside of 69.79% from the stock’s current price.

LMND has been the topic of a number of other reports. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $42.00 in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Tuesday, October 15th. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler raised their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.57.

Lemonade Trading Up 6.6 %

NYSE:LMND traded up $3.07 on Thursday, reaching $49.65. 3,457,427 shares of the stock traded hands, compared to its average volume of 1,728,911. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -16.33 and a beta of 1.68. The company’s 50 day moving average is $21.71 and its 200-day moving average is $19.07. Lemonade has a 1-year low of $14.03 and a 1-year high of $52.22.

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

Insider Buying and Selling at Lemonade

In other Lemonade news, Director Maria Angelidis-Smith acquired 15,042 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $33.23 per share, with a total value of $499,845.66. Following the completion of the acquisition, the director now owns 33,554 shares of the company’s stock, valued at $1,114,999.42. This trade represents a 81.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Maya Prosor sold 20,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the transaction, the insider now directly owns 59,286 shares of the company’s stock, valued at $1,778,580. The trade was a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,604 shares of company stock valued at $1,655,085 in the last quarter. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Lemonade

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after buying an additional 65,144 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in Lemonade in the 3rd quarter worth approximately $614,000. State Street Corp lifted its position in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in 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. Finally, Verition Fund Management LLC bought a new stake in Lemonade in the 3rd quarter worth approximately $1,571,000. 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.