Morgan Stanley Issues Positive Forecast for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its target price upped by analysts at Morgan Stanley from $15.00 to $23.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 27.56% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group cut their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Piper Sandler upped their price target on shares of Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Lemonade currently has a consensus rating of “Hold” and an average price target of $23.33.

Lemonade Stock Down 0.8 %

LMND opened at $31.75 on Friday. Lemonade has a 12-month low of $14.03 and a 12-month high of $34.95. The firm has a market capitalization of $2.27 billion, a P/E ratio of -10.44 and a beta of 1.68. The stock’s 50 day moving average price is $20.06 and its two-hundred day moving average price is $18.48.

Lemonade (NYSE:LMND) last issued its quarterly 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. The firm had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) earnings per share. As a group, analysts anticipate that Lemonade will post -3.05 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Maya Prosor sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 approximately $1,778,580. The trade was a 25.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maria Angelidis-Smith bought 15,042 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were acquired 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 approximately $1,114,999.42. The trade was a 81.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after acquiring an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake 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 buying an additional 3,403 shares during the last quarter. Quest Partners LLC grew its position in Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after acquiring an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Lemonade in the second quarter valued at about $180,000. Finally, Bristlecone Advisors LLC bought a new stake in shares of Lemonade during the third quarter worth about $218,000. Institutional investors and hedge funds 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.