Lemonade (NYSE:LMND) Sets New 12-Month High – Still a Buy?

Lemonade, Inc. (NYSE:LMND) hit a new 52-week high on Tuesday . The stock traded as high as $39.45 and last traded at $39.23, with a volume of 1128828 shares traded. The stock had previously closed at $34.31.

Analysts Set New Price Targets

LMND has been the topic of several analyst reports. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $42.00 in a research report on Wednesday. Finally, Piper Sandler upped their price objective on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.50.

Lemonade Trading Up 16.0 %

The firm’s fifty day moving average is $21.71 and its 200 day moving average is $19.07.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share 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 net margin of 43.51% and a negative return on equity of 32.85%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.88) earnings per share. Analysts anticipate that Lemonade, Inc. will post -3.05 EPS for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, Director Maria Angelidis-Smith purchased 15,042 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the completion of the acquisition, the director now directly owns 33,554 shares in the company, 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 the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the company’s 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 transaction, the chief financial officer now owns 271,552 shares of the company’s stock, 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 a total of 55,604 shares of company stock worth $1,655,085 over the last three months. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after buying an additional 3,403 shares in the last quarter. Quest Partners LLC grew its stake in Lemonade by 1,647.6% during the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after buying an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Lemonade during the second quarter worth approximately $180,000. Finally, Bristlecone Advisors LLC bought a new position in shares of Lemonade in the third quarter valued at approximately $218,000. 80.30% of the stock is currently owned by institutional investors.

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.