BMO Capital Markets Forecasts Strong Price Appreciation for Lemonade (NYSE:LMND) Stock

Lemonade (NYSE:LMND) had its price objective hoisted by stock analysts at BMO Capital Markets from $13.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. BMO Capital Markets’ target price indicates a potential downside of 69.57% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered shares of 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. 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. Piper Sandler boosted their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. 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. Finally, Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $42.00 in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average target price of $30.43.

Lemonade Stock Performance

Shares of LMND stock opened at $49.29 on Thursday. Lemonade has a 1 year low of $14.03 and a 1 year high of $52.22. The firm has a market capitalization of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. The stock has a fifty day moving average of $22.98 and a two-hundred day moving average of $19.51.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.88) earnings per share. Equities research analysts predict that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In related news, insider Maya Prosor sold 20,000 shares of the company’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 sale, the insider now owns 59,286 shares in the company, valued at approximately $1,778,580. This represents a 25.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction that occurred 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 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock valued at $3,783,045 over the last three months. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of hedge funds have recently modified their holdings of LMND. State Board of Administration of Florida Retirement System raised its position in Lemonade by 18.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock valued at $283,000 after buying an additional 2,710 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Lemonade by 9.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after purchasing an additional 2,196 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Lemonade during the first quarter worth approximately $718,000. Concurrent Investment Advisors LLC purchased a new position in Lemonade during the second quarter valued at approximately $180,000. Finally, Van ECK Associates Corp grew its position in Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares in the last quarter. Hedge funds and other institutional investors own 80.30% 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.