Lemonade, Inc. (NYSE:LMND – Get Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $24.55, but opened at $23.13. Lemonade shares last traded at $23.26, with a volume of 2,038 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LMND shares. Oppenheimer boosted their target price on Lemonade from $30.00 to $35.00 in a research report on Wednesday, August 10th. Piper Sandler boosted their target price on Lemonade from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, August 10th. Barclays boosted their target price on Lemonade from $20.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 10th. Finally, Credit Suisse Group cut their target price on Lemonade to $14.00 in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.29.

Lemonade Trading Down 6.5 %

The company has a 50-day simple moving average of $23.16 and a 200 day simple moving average of $22.19. The company has a market cap of $1.58 billion, a P/E ratio of -5.07 and a beta of 1.60.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Lemonade by 58.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 372,554 shares of the company's stock worth $6,803,000 after buying an additional 138,042 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Lemonade by 91.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,909 shares of the company's stock worth $35,000 after buying an additional 913 shares during the period. Creative Planning lifted its holdings in shares of Lemonade by 20.4% in the 2nd quarter. Creative Planning now owns 17,113 shares of the company's stock worth $312,000 after buying an additional 2,900 shares during the period. State Street Corp lifted its holdings in shares of Lemonade by 29.5% in the 2nd quarter. State Street Corp now owns 808,683 shares of the company's stock worth $14,767,000 after buying an additional 184,130 shares during the period. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Lemonade by 10,484.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 6,880 shares of the company's stock worth $126,000 after buying an additional 6,815 shares during the period. Institutional investors 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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