Lemonade (NYSE:LMND) Issues Quarterly Earnings Results

Lemonade (NYSE:LMND) announced its quarterly earnings results on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07, Briefing.com reports. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 31.86% and a negative net margin of 43.51%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.88) EPS. Lemonade updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Lemonade Trading Up 3.2 %

Shares of Lemonade stock traded up $0.75 on Friday, reaching $24.52. 2,216,629 shares of the company were exchanged, compared to its average volume of 1,604,988. The stock has a fifty day moving average price of $18.00 and a 200-day moving average price of $17.63. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -8.45 and a beta of 1.77. Lemonade has a fifty-two week low of $13.16 and a fifty-two week high of $25.98.

Wall Street Analyst Weigh In

A number of research firms have commented on LMND. Piper Sandler boosted their price target on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group lowered 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. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and a consensus target price of $21.33.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.50% of the company’s stock.

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.