Lemonade, Inc. (NYSE:LMND – Get Rating)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.02, but opened at $22.00. Lemonade shares last traded at $21.65, with a volume of 1,059 shares changing hands.
Analyst Ratings Changes
A number of research firms recently weighed in on LMND. Credit Suisse Group lowered their price objective on shares of Lemonade to $14.00 in a research report on Friday, July 22nd. Piper Sandler lifted their price objective on shares of Lemonade from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, August 10th. Oppenheimer lifted their price objective on shares of Lemonade from $30.00 to $35.00 in a research report on Wednesday, August 10th. Finally, Barclays boosted their target price on shares of Lemonade from $20.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $31.29.
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Lemonade Stock Performance
The company has a market capitalization of $1.50 billion, a PE ratio of -4.64 and a beta of 1.60. The firm's 50-day simple moving average is $23.41 and its 200 day simple moving average is $22.27.
Lemonade (NYSE:LMND – Get Rating) last released its quarterly earnings results on Monday, August 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.25. The business had revenue of $50.00 million during the quarter, compared to the consensus estimate of $47.56 million. Lemonade had a negative return on equity of 29.43% and a negative net
margin of 163.39%. The business's revenue was up 77.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.90) EPS. As a group, equities analysts anticipate that Lemonade, Inc. will post -4.82 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tyler Stone Wealth Management acquired a new position in Lemonade in the 4th quarter valued at about $29,000. MetLife Investment Management LLC acquired a new position in Lemonade in the 1st quarter valued at about $25,000. DeDora Capital Inc. acquired a new position in Lemonade in the 1st quarter valued at about $27,000. Nauset Wealth Management. LLC acquired a new position in Lemonade in the 1st quarter valued at about $32,000. Finally, Prospera Financial Services Inc acquired a new position in Lemonade in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 48.60% of the company's stock.
About Lemonade
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Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.
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