Lemonade (NYSE:LMND) Rating Increased to Hold at Zacks Investment Research

Lemonade (NYSE:LMND – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Lemonade Inc. offers homeowners and renters insurance principally in the United States and contents and liability insurance primarily in Germany and the Netherlands, through its full-stack insurance carriers. Lemonade Inc. is based in New York. “

A number of other brokerages have also recently issued reports on LMND. Barclays decreased their price objective on shares of Lemonade from $43.00 to $22.00 in a research note on Friday, February 25th. Piper Sandler decreased their price objective on shares of Lemonade from $54.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Morgan Stanley decreased their price objective on shares of Lemonade from $74.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 4th. Finally, Oppenheimer decreased their price objective on shares of Lemonade from $85.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average target price of $45.50.

Shares of LMND traded down $1.35 during mid-day trading on Wednesday, hitting $22.24. 1,101,232 shares of the company’s stock were exchanged, compared to its average volume of 2,055,067. Lemonade has a 52 week low of $16.69 and a 52 week high of $115.85. The stock’s 50-day simple moving average is $24.84 and its 200-day simple moving average is $40.26. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -5.66 and a beta of 2.10.

Lemonade (NYSE:LMND – Get Rating) last announced its earnings results on Wednesday, February 23rd. The company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.13) by ($0.01). Lemonade had a negative return on equity of 22.54% and a negative net margin of 187.93%. The business had revenue of $41.00 million for the quarter, compared to the consensus estimate of $39.35 million. Sell-side analysts forecast that Lemonade will post -5.68 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Fifth Third Bancorp acquired a new stake in Lemonade in the first quarter valued at approximately $72,000. WMG Financial Advisors LLC lifted its holdings in shares of Lemonade by 17.0% during the first quarter. WMG Financial Advisors LLC now owns 23,020 shares of the company’s stock worth $607,000 after purchasing an additional 3,350 shares during the period. DeDora Capital Inc. acquired a new position in shares of Lemonade during the first quarter worth $27,000. Flagship Harbor Advisors LLC lifted its holdings in shares of Lemonade by 14.7% during the first quarter. Flagship Harbor Advisors LLC now owns 7,970 shares of the company’s stock worth $210,000 after purchasing an additional 1,021 shares during the period. Finally, Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Lemonade by 7.2% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 7,061 shares of the company’s stock worth $297,000 after purchasing an additional 473 shares during the period. Hedge funds and other institutional investors own 58.52% of the company’s stock.

About Lemonade (Get Rating)

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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