JMP Securities Reaffirms Market Outperform Rating for Lemonade (NYSE:LMND)

JMP Securities reaffirmed their market outperform rating on shares of Lemonade (NYSE:LMND) in a research report report published on Tuesday morning, Benzinga reports. JMP Securities currently has a $40.00 price objective on the stock.

Separately, Jefferies Financial Group decreased their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Two research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.17.

Lemonade Trading Down 0.9 %

NYSE:LMND opened at $19.02 on Tuesday. Lemonade has a twelve month low of $10.27 and a twelve month high of $24.55. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -6.08 and a beta of 1.77. The stock has a fifty day simple moving average of $17.48 and a 200-day simple moving average of $17.46.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.07. The firm had revenue of $122.00 million during the quarter, compared to the consensus estimate of $121.77 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.97) earnings per share. As a group, equities research analysts predict that Lemonade will post -3.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the transaction, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Lemonade during the second quarter worth about $14,181,000. General Equity Holdings LP purchased a new stake in shares of Lemonade during the second quarter worth about $5,198,000. GSA Capital Partners LLP purchased a new stake in shares of Lemonade during the first quarter worth about $3,100,000. Millennium Management LLC grew its stake in shares of Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after acquiring an additional 131,784 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Lemonade by 8.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock worth $1,853,000 after acquiring an additional 9,107 shares during the last quarter. 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.