Bullish Or Bearish For Lemonade Inc. (NYSE: LMND) In 2023

Lemonade Inc. (NYSE:LMND) shares, rose in value on Thursday, 03/02/23, with the stock price down by -1.91% to the previous day’s close as strong demand from buyers drove the stock to $14.91.

Actively observing the price movement in the last trading, the stock closed the session at $15.20, falling within a range of $14.47 and $15.11. The value of beta (5-year monthly) was 1.57. Referring to stock’s 52-week performance, its high was $32.97, and the low was $12.82. On the whole, LMND has fluctuated by -8.42% over the past month.

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With the market capitalization of Lemonade Inc. currently standing at about $1.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2023 – May 12, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.2, which is expected to increase to -$1.06 for fiscal year -$4.88 and then to about -$4.85 by fiscal year 2023. Data indicates that the EPS growth is expected to be -25.80% in 2023, while the next year’s EPS growth is forecast to be 0.60%.

Analysts have estimated the company’s revenue for the quarter at $78.26 million, with a low estimate of $75.6 million and a high estimate of $83.13 million. According to the average forecast, sales growth in current quarter could jump up 90.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $246.58 million, representing an increase of 92.00% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LMND’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LMND currently trading nearly -12.02% and -5.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.38, while the 7-day volatility ratio is showing 6.50% which for the 30-day chart, stands at 7.81%. Furthermore, Lemonade Inc. (LMND)’s average true range (ATR) is 1.25.

A comparison of Lemonade Inc. (LMND) with its peers suggests the former has fared considerably weaker in the market. LMND showed an intraday change of -1.91% in last session, and over the past year, it shrunk by -38.57%%. In comparison, The Progressive Corporation (PGR) has moved higher at 0.01% on the day and was up 37.79% over the past 12 months. Additionally, there is a loss of -0.47% for The Travelers Companies Inc. (TRV) in last trading while the stock has seen an overall depriciation of 9.16%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.76%. Meanwhile, the Dow Jones Industrial Improved by 1.05%.

Data on historical trading for Lemonade Inc. (NYSE:LMND) indicates that the trading volumes over the past 10 days have averaged 1.47 million and over the past 3 months, they’ve averaged 1.15 million. According to company’s latest data on outstanding shares, there are 66.88 million shares outstanding.

Nearly 28.40% of Lemonade Inc.’s shares belong to company insiders and institutional investors own 34.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.82 million shares as on Jan 30, 2023, resulting in a short ratio of 12.17. According to the data, the short interest in Lemonade Inc. (LMND) stood at 17.08% of shares outstanding as of Jan 30, 2023; the number of short shares registered in Dec 29, 2022 reached 12.17 million. The stock has risen by 8.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LMND stock heading into the next quarter.