Lemonade (NYSE:LMND) Receives Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Lemonade (NYSE:LMND) in a report released on Monday, Benzinga reports. The brokerage currently has a $40.00 price target on the stock.

A number of other equities analysts also recently issued reports on LMND. Piper Sandler reiterated a neutral rating and set a $17.00 price objective on shares of Lemonade in a research note on Thursday, February 29th. Keefe, Bruyette & Woods increased their price objective on shares of Lemonade from $16.00 to $18.00 and gave the company a market perform rating in a research note on Monday, March 4th. TD Cowen initiated coverage on shares of Lemonade in a research note on Wednesday, January 10th. They set a market perform rating and a $17.00 price objective on the stock. Finally, Morgan Stanley raised their target price on shares of Lemonade from $13.00 to $14.00 and gave the company an underweight rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Lemonade has a consensus rating of Hold and a consensus target price of $17.11.

Lemonade Price Performance

Lemonade stock opened at $15.75 on Monday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -4.62 and a beta of 1.89. The company’s 50-day moving average is $16.86 and its 200 day moving average is $16.01. Lemonade has a 1-year low of $10.27 and a 1-year high of $24.81.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, February 27th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.18. Lemonade had a negative net margin of 55.12% and a negative return on equity of 31.29%. The business had revenue of $115.50 million for the quarter, compared to the consensus estimate of $111.71 million. During the same period in the prior year, the firm earned ($0.93) EPS. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. Research analysts anticipate that Lemonade will post -3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Timothy E. Bixby purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $16.54 per share, with a total value of $165,400.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $165,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC raised its holdings in shares of Lemonade by 57.0% in the third quarter. Algert Global LLC now owns 96,058 shares of the company’s stock worth $1,116,000 after buying an additional 34,860 shares during the last quarter. Swiss National Bank raised its holdings in shares of Lemonade by 1.2% during the third quarter. Swiss National Bank now owns 114,500 shares of the company’s stock worth $1,330,000 after purchasing an additional 1,400 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Lemonade during the third quarter worth $704,000. SG Americas Securities LLC raised its holdings in shares of Lemonade by 32.2% during the fourth quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock worth $688,000 after purchasing an additional 10,376 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Lemonade by 14.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 114,013 shares of the company’s stock worth $1,839,000 after purchasing an additional 14,745 shares during the last quarter. Hedge funds and other institutional investors 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.