Lemonade (NYSE:LMND) Price Target Raised to $18.00 at Piper Sandler

Lemonade (NYSE:LMND) had its price target boosted by Piper Sandler from $17.00 to $18.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on LMND. JMP Securities reaffirmed a market outperform rating and issued a $40.00 target price on shares of Lemonade in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price target on Lemonade from $16.00 to $18.00 and gave the company a market perform rating in a report on Monday, March 4th. Morgan Stanley lifted their price objective on shares of Lemonade from $13.00 to $14.00 and gave the stock an underweight rating in a report on Wednesday, February 28th. Finally, TD Cowen initiated coverage on shares of Lemonade in a report on Wednesday, January 10th. They set a market perform rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $17.22.

Lemonade Price Performance

NYSE LMND traded down $0.36 during trading hours on Thursday, hitting $17.38. The company had a trading volume of 1,723,844 shares, compared to its average volume of 1,521,711. The firm’s 50 day moving average is $16.84 and its 200 day moving average is $16.42. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.55 and a beta of 1.82. Lemonade has a fifty-two week low of $10.27 and a fifty-two week high of $24.81.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.14. The company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. Lemonade’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.95) earnings per share. On average, equities analysts anticipate that Lemonade will post -3.03 EPS for the current year.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby bought 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $165,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.70% of the company’s stock.

Institutional Trading of Lemonade

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC increased its stake in shares of Lemonade by 57.0% during the third quarter. Algert Global LLC now owns 96,058 shares of the company’s stock valued at $1,116,000 after acquiring an additional 34,860 shares during the period. Swiss National Bank raised its stake in shares of Lemonade by 1.2% in the 3rd quarter. Swiss National Bank now owns 114,500 shares of the company’s stock worth $1,330,000 after buying an additional 1,400 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Lemonade in the 3rd quarter worth $704,000. SG Americas Securities LLC lifted its holdings in shares of Lemonade by 32.2% in the fourth quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock valued at $688,000 after buying an additional 10,376 shares during the period. Finally, Cypress Capital Management LLC WY bought a new position in Lemonade during the fourth quarter valued at about $946,000. 80.30% of the stock is currently owned by institutional investors.

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.