Morgan Stanley Initiates Coverage of Lemonade With Underweight Recommendation

Fintel reports that on June 20, 2023, Morgan Stanley initiated coverage of Lemonade (NYSE:LMND) with a Underweight recommendation.

Analyst Price Forecast Suggests 16.05% Downside

As of June 1, 2023, the average one-year price target for Lemonade is 16.54. The forecasts range from a low of 8.08 to a high of $26.25. The average price target represents a decrease of 16.05% from its latest reported closing price of 19.70.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Lemonade is 384MM, an increase of 24.74%. The projected annual non-GAAP EPS is -4.96.

What is the Fund Sentiment?

There are 358 funds or institutions reporting positions in Lemonade. This is a decrease of 4 owner(s) or 1.10% in the last quarter. Average portfolio weight of all funds dedicated to LMND is 0.10%, a decrease of 1.95%. Total shares owned by institutions increased in the last three months by 0.74% to 37,250K shares. The put/call ratio of LMND is 0.40, indicating a bullish outlook.

What are Other Shareholders Doing?

Softbank Group holds 11,983K shares representing 17.24% ownership of the company. No change in the last quarter.

Baillie Gifford holds 5,043K shares representing 7.26% ownership of the company. In it’s prior filing, the firm reported owning 4,891K shares, representing an increase of 3.02%. The firm decreased its portfolio allocation in LMND by 6.94% over the last quarter.

VWUSX – Vanguard U.S. Growth Fund Investor Shares holds 2,122K shares representing 3.05% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,566K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 1,517K shares, representing an increase of 3.09%. The firm decreased its portfolio allocation in LMND by 0.68% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,264K shares representing 1.82% ownership of the company. In it’s prior filing, the firm reported owning 1,248K shares, representing an increase of 1.31%. The firm increased its portfolio allocation in LMND by 1.37% over the last quarter.

Lemonade Background Information
(This description is provided by the company.)

Lemonade offers renters, homeowners, and pet health insurance in the United States, contents and liability insurance in Germany and the Netherlands, and renters insurance in France, through its full-stack insurance carriers. Powered by artificial intelligence and behavioral economics, Lemonade set out to replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community, during its annual Giveback. Lemonade is currently available for most of the United States, Germany, the Netherlands and France and continues to expand globally.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ? ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ? TRANSITION REPORT PURSUANT TO SECTI

This article originally appeared on Fintel