Lemonade (NYSE:LMND) Price Target Raised to $23.00 at Morgan Stanley

Lemonade (NYSE:LMND) had its price objective increased by equities research analysts at Morgan Stanley from $15.00 to $23.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 30.93% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler lifted their price objective on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.33.

Lemonade Price Performance

LMND opened at $33.30 on Friday. The firm has a 50 day simple moving average of $20.36 and a 200 day simple moving average of $18.60. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $35.17.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating 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 32.85%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the previous year, the company posted ($0.88) EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts forecast that Lemonade will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director Maria Angelidis-Smith purchased 18,512 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the acquisition, the director now directly owns 18,512 shares in the company, valued at approximately $507,599.04. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value 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. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Lemonade by 18.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock valued at $283,000 after purchasing an additional 2,710 shares during the last quarter. HAP Trading LLC grew its position in Lemonade by 106.1% in the first quarter. HAP Trading LLC now owns 24,315 shares of the company’s stock valued at $399,000 after purchasing an additional 12,515 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Lemonade by 9.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after buying an additional 2,196 shares during the last quarter. Tidal Investments LLC bought a new stake in Lemonade during the 1st quarter worth about $718,000. Finally, Concurrent Investment Advisors LLC bought a new stake in Lemonade during the 2nd quarter worth about $180,000. Institutional investors own 80.30% of the company’s stock.

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.