Lemonade (NYSE:LMND) Price Target Raised to $25.00 at Piper Sandler

Lemonade (NYSE:LMND) had its target price raised by equities research analysts at Piper Sandler from $18.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 3.52% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average price target of $21.33.

Lemonade Stock Performance

LMND stock opened at $24.15 on Friday. Lemonade has a fifty-two week low of $13.16 and a fifty-two week high of $25.98. The company’s 50 day moving average price is $18.11 and its 200 day moving average price is $17.70. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -7.94 and a beta of 1.67.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 31.86% and a negative net margin of 43.51%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.88) EPS. Equities analysts forecast that Lemonade will post -3.04 EPS for the current fiscal year.

Insider Activity at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, the chief financial officer now owns 271,552 shares in the company, valued at $4,953,108.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is owned by insiders.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Lemonade by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock valued at $1,853,000 after purchasing an additional 9,107 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Lemonade in the 1st quarter valued at $477,000. Millennium Management LLC raised its position in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the last quarter. Squarepoint Ops LLC raised its position in Lemonade by 436.2% during the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after buying an additional 37,073 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of Lemonade in the 1st quarter worth $718,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.