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.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could “deliver huge returns.” Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
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.