Lemonade Inc (NYSE: LMND)’s Potential for Significant Price Increase in the Near Future

In the latest trading session, 1.62 million Lemonade Inc (NYSE:LMND) shares changed hands as the company’s beta touched 1.86. With the company’s most recent per share price at $17.64 changing hands around $1.12 or 6.78% at last look, the market valuation stands at $1.23B. LMND’s current price is a discount, trading about -40.65% off its 52-week high of $24.81. The share price had its 52-week low at $10.27, which suggests the last value was 41.78% up since then. When we look at Lemonade Inc’s average trading volume, we note the 10-day average is 2.09 million shares, with the 3-month average coming to 1.58 million.

Analysts gave the Lemonade Inc (LMND) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.36. If we narrow down to specifics, the data shows that 4 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended LMND as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Lemonade Inc’s EPS for the current quarter is expected to be -$0.81.

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Lemonade Inc (NYSE:LMND) trade information

Instantly LMND is in green as seen in intraday trades today. With action 23.10%, the performance over the past five days has been green. The jump to weekly highs of 17.94 on Friday, 11/17/23 added 6.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 28.95%, with the 5-day performance at 23.10% in the green. However, in the 30-day time frame, Lemonade Inc (NYSE:LMND) is 50.51% up. Looking at the short shares, we see there were 15.62 million shares sold at short interest cover period of 13.67 days.

The consensus price target for the stock as assigned by Wall Street analysts is $18.11, meaning bulls need an upside of 2.6% from its recent market value. According to analyst projections, LMND’s forecast low is $10.00 with $40.00 as the target high. To hit the forecast high, the stock’s price needs a -126.76% plunge from its current level, while the stock would need to tank 43.31% for it to hit the projected low.

Lemonade Inc (LMND) estimates and forecasts

Data shows that the Lemonade Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -0.62% over the past 6 months, a 22.44% in annual growth rate that is considerably higher than the industry average of 12.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Lemonade Inc will rise 12.90%, while the growth in revenue is estimated to hit 20.00% for the next quarter. Year-over-year growth is forecast to reach 65.90% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $110.57 million. 6 analysts are of the opinion that Lemonade Inc’s revenue for the quarter ending Mar 2024 will be $119.41 million. The company’s revenue for the corresponding quarters a year ago was $88.4 million and $95.2 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 25.10%. The estimates for the next quarter sales put growth at 25.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -55.99%. The 2023 estimates are for Lemonade Inc earnings to increase by 21.65%, but the outlook for the next 5-year period is at 19.50% per year.

LMND Dividends

Lemonade Inc is expected to release its next quarterly earnings report on November 02.

Lemonade Inc (NYSE:LMND)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 27.97% of Lemonade Inc shares while 35.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 49.66%. There are 35.77% institutions holding the Lemonade Inc stock share, with Softbank Group Corporation the top institutional holder. As of Sep 29, 2023, the company held 17.14% of the shares, roughly 11.98 million LMND shares worth $208.39 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.16% or 5.01 million shares worth $87.09 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were Vanguard U.S. Growth Fund and Vanguard Total Stock Market Index Fund. With 2.08 million shares estimated at $36.11 million under it, the former controlled 2.97% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.95% of the shares, roughly 2.06 million shares worth around $35.83 million.

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