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

Lemonade (NYSE:LMND) had its price objective lifted by research analysts at BMO Capital Markets from $13.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the stock. BMO Capital Markets’ price target points to a potential downside of 69.79% from the stock’s current price.

Several other equities research analysts have also recently weighed in on LMND. Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Piper Sandler upped their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $42.00 in a research note on Wednesday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.57.

Lemonade Trading Up 6.6 %

LMND stock traded up $3.07 during midday trading on Thursday, hitting $49.65. The company had a trading volume of 3,457,427 shares, compared to its average volume of 1,728,911. Lemonade has a 52 week low of $14.03 and a 52 week high of $52.22. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -16.33 and a beta of 1.68. The stock’s 50 day moving average price is $21.71 and its 200 day moving average price is $19.07.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the previous year, the firm earned ($0.88) earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. Analysts predict that Lemonade will post -3.05 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In related news, Director Maria Angelidis-Smith acquired 15,042 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $33.23 per share, with a total value of $499,845.66. Following the completion of the purchase, the director now directly owns 33,554 shares of the company’s stock, valued at $1,114,999.42. This represents a 81.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maya Prosor sold 20,000 shares of the firm’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 completion of the transaction, the insider now directly owns 59,286 shares in the company, valued at $1,778,580. This trade represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,604 shares of company stock valued at $1,655,085. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LMND. Barclays PLC grew its position in shares of Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after purchasing an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Lemonade during the third quarter worth about $614,000. State Street Corp grew its position in shares of Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after purchasing an additional 14,028 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Lemonade during the third quarter worth about $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.