Lemonade, Inc. (NYSE:LMND – Get Rating) was down 7.8% during mid-day trading on Friday after Barclays lowered their price target on the stock from $18.00 to $16.00. The company traded as low as $15.52 and last traded at $15.61. 170,994 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,167,326 shares. The stock had previously closed at $16.93.
A number of other equities research analysts have also commented on the company. BMO Capital Markets initiated coverage on Lemonade in a research report on Thursday, January 19th. They issued an “underperform” rating and a $10.00 price target on the stock. Oppenheimer reduced their target price on Lemonade to $30.00 in a report on Tuesday, November 15th. Keefe, Bruyette & Woods started coverage on shares of Lemonade in a report on Thursday, November 17th. They set a “market perform” rating and a $24.00 price target for the company. Finally, Piper Sandler dropped their price target on shares of Lemonade from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.63.
Hedge Funds Weigh In On Lemonade
Several institutional investors have recently made changes to their positions in LMND. Millennium Management LLC increased its position in Lemonade by 252.5% in the 4th quarter. Millennium Management LLC now owns 734,832 shares of the company’s stock valued at $10,053,000 after buying an additional 526,388 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lemonade by 12.6% during the third quarter. Vanguard Group Inc. now owns 4,168,986 shares of the company’s stock worth $88,299,000 after purchasing an additional 467,059 shares during the period. Renaissance Technologies LLC bought a new position in shares of Lemonade in the 1st quarter worth $11,925,000. Hudson Structured Capital Management Ltd. acquired a new stake in Lemonade in the 3rd quarter valued at $8,107,000. Finally, Northern Trust Corp grew its position in Lemonade by 128.6% in the 2nd quarter. Northern Trust Corp now owns 365,304 shares of the company’s stock valued at $6,671,000 after purchasing an additional 205,520 shares during the period. Institutional investors and hedge funds own 67.70% of the company’s stock.
Lemonade Stock Performance
The stock’s 50 day simple moving average is $15.70 and its 200 day simple moving average is $19.95. The firm has a market cap of $1.11 billion, a P/E ratio of -3.67 and a beta of 1.57.
Lemonade (NYSE:LMND – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.24. Lemonade had a negative net margin of 116.01% and a negative return on equity of 33.48%. The firm had revenue of $88.40 million during the quarter, compared to analysts’ expectations of $78.23 million. During the same period last year, the company earned ($1.14) earnings per share. The business’s revenue was up 115.6% on a year-over-year basis. As a group, analysts forecast that Lemonade, Inc. will post -4.68 EPS for the current fiscal year.
About Lemonade
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.