Lemonade (NYSE:LMND) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Lemonade (NYSE:LMNDGet Rating) from a hold rating to a sell rating in a research note released on Tuesday, 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. “

LMND has been the topic of a number of other reports. Oppenheimer lowered their price objective on Lemonade from $85.00 to $45.00 and set an outperform rating on the stock in a research note on Friday, February 25th. Morgan Stanley lowered their price objective on Lemonade from $74.00 to $28.00 and set an equal weight rating on the stock in a research note on Friday, March 4th. Barclays lowered their price objective on Lemonade from $43.00 to $22.00 in a research note on Friday, February 25th. Finally, Piper Sandler lowered their price objective on Lemonade from $54.00 to $32.00 and set an overweight rating on the stock in a research note on Friday, February 25th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $36.75.

Shares of NYSE:LMND opened at $21.04 on Tuesday. The company’s 50-day moving average is $23.29 and its 200 day moving average is $35.24. The company has a market capitalization of $1.30 billion, a P/E ratio of -4.86 and a beta of 2.04. Lemonade has a fifty-two week low of $15.99 and a fifty-two week high of $115.85.

Lemonade (NYSE:LMNDGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($1.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.22. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.25 million. Lemonade had a negative net margin of 179.02% and a negative return on equity of 25.54%. The firm’s quarterly revenue was up 88.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.81) EPS. As a group, analysts predict that Lemonade will post -5.63 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Thrive Capital Management LLC bought a new position in shares of Lemonade in the third quarter worth approximately $54,772,000. JPMorgan Chase & Co. increased its position in shares of Lemonade by 31.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,480,432 shares of the company’s stock worth $104,451,000 after purchasing an additional 596,850 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Lemonade in the third quarter worth approximately $38,511,000. Morgan Stanley increased its position in shares of Lemonade by 151.3% in the third quarter. Morgan Stanley now owns 864,856 shares of the company’s stock worth $57,953,000 after purchasing an additional 520,747 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Lemonade in the first quarter worth approximately $11,925,000. Hedge funds and other institutional investors own 58.52% of the company’s stock.

Lemonade Company Profile (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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