Lemonade’s (LMND) Market Outperform Rating Reaffirmed at JMP Securities

by · The Cerbat Gem

JMP Securities restated their market outperform rating on shares of Lemonade (NYSE:LMND – Free Report) in a report released on Tuesday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

Separately, Jefferies Financial Group cut their target price on shares of Lemonade from $15.00 to $14.00 and set an underperform rating on the stock in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $20.17.

Get Our Latest Research Report on Lemonade

Lemonade Stock Up 6.7 %

Shares of NYSE:LMND opened at $18.71 on Tuesday. The stock has a market cap of $1.32 billion, a PE ratio of -5.98 and a beta of 1.77. The company’s fifty day moving average is $17.33 and its 200 day moving average is $17.44. Lemonade has a 52 week low of $10.27 and a 52 week high of $24.55.

Lemonade (NYSE:LMND – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.07. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The firm had revenue of $122.00 million for the quarter, compared to the consensus estimate of $121.77 million. During the same quarter in the previous year, the business earned ($0.97) earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Lemonade will post -3.04 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC purchased a new stake in Lemonade in the second quarter worth about $180,000. Capstone Investment Advisors LLC purchased a new position in shares of Lemonade in the 1st quarter valued at approximately $214,000. Headlands Technologies LLC bought a new stake in shares of Lemonade during the first quarter valued at approximately $231,000. Seven Eight Capital LP purchased a new stake in Lemonade in the second quarter worth $269,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in 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 worth $283,000 after purchasing an additional 2,710 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

About Lemonade

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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.

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