Morgan Stanley Remains a Buy on Lemonade (LMND)

In a report released on April 6, Bob Huang from Morgan Stanley maintained a Buy rating on Lemonade, with a price target of $85.00. The company’s shares closed yesterday at $61.94.

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According to TipRanks, Huang is an analyst with an average return of -6.7% and a 41.13% success rate. Huang covers the Financial sector, focusing on stocks such as Progressive, Prudential Financial, and Voya Financial.

The word on The Street in general, suggests a Hold analyst consensus rating for Lemonade with a $64.14 average price target.

Based on Lemonade’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $228.1 million and a GAAP net loss of $21.7 million. In comparison, last year the company earned a revenue of $148.8 million and had a GAAP net loss of $30 million

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LMND in relation to earlier this year. Last month, Timothy Bixby, the CFO of LMND sold 2,135.00 shares for a total of $107,006.20.