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Lemonade (LMND) Gets a Sell Rating from Jefferies

In a report issued on July 12, Yaron Kinar from Jefferies maintained a Sell rating on Lemonade (LMNDResearch Report), with a price target of $15.50. The company’s shares closed last Thursday at $20.76, close to its 52-week low of $15.99.

According to TipRanks.com, Kinar is a 3-star analyst with an average return of 2.4% and a 53.4% success rate. Kinar covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, W. R. Berkley Corporation, and Arthur J Gallagher & Co.

The word on The Street in general, suggests a Hold analyst consensus rating for Lemonade with a $24.81 average price target, representing a 16.6% upside. In a report released yesterday, Credit Suisse also maintained a Sell rating on the stock with a $14.00 price target.

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Based on Lemonade’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $44.3 million and GAAP net loss of $74.8 million. In comparison, last year the company earned revenue of $23.5 million and had a GAAP net loss of $49 million.

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Lemonade Inc operates in the insurance industry. The company offers digital and artificial intelligence based platform for various insurances and for settling claims and paying premiums. The platform ensures transparency in issuing policies and settling disputes.

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