Piper Sandler Forecasts Strong Price Appreciation for Lemonade (NYSE:LMND) Stock

Lemonade (NYSE:LMND) had its price target raised by Piper Sandler from $18.00 to $25.00 in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research firms also recently weighed in on LMND. Jefferies Financial Group decreased their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.33.

Lemonade Trading Up 1.6 %

LMND stock traded up $0.38 on Friday, hitting $24.15. The company had a trading volume of 3,895,756 shares, compared to its average volume of 1,613,576. Lemonade has a 12-month low of $13.16 and a 12-month high of $25.98. The stock’s 50-day simple moving average is $18.11 and its 200 day simple moving average is $17.69. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -7.94 and a beta of 1.67.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 31.86%. The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter last year, the company posted ($0.88) earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Research analysts forecast that Lemonade will post -3.04 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm’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 sale, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bristlecone Advisors LLC bought a new stake in Lemonade in the 3rd quarter valued at $218,000. International Assets Investment Management LLC grew its stake in shares of Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after buying an additional 18,480 shares in the last quarter. Blue Trust Inc. grew 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 worth $45,000 after buying an additional 1,879 shares in the last quarter. Axiom Advisory LLC grew its stake in shares of Lemonade by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after buying an additional 850 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Lemonade in the 3rd quarter worth $308,000. 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.