One of the more impressive initial public offerings (IPOs) of 2020, Lemonade (NYSE:LMND) is a company that has driven incredible investor interest since its debut. Today, LMND stock is once again a trendy ticker for investors to consider. That’s because this insurance company has surged 15% higher on heavy volume today.
Much of this surge appears to align with the broader market rally we’re seeing in equities. Investors are taking a risk-on approach to growth once again, following yesterday’s interest rate hike by the Federal Reserve. With risk appetite up, higher-growth companies like Lemonade are once again in focus.
That’s a good thing for investors in LMND stock. Indeed, over the past year, it has been mostly pain for this company. Shares of LMND stock have gone from around $100 a year ago to the $25 level today. And that’s including today’s impressive rally.
Let’s dive into where analysts think Lemonade could be headed from here.
Analyst Takes on LMND Stock
For context, LMND stock currently trades at $25.25 per share.
- A bull on Lemonade, JMP Securities analyst Michael Carletti reiterated a “buy” rating for LMND stock, with a price target of $95 per share.
- Morgan Stanley’s Michael Phillips provided a “hold” rating on Lemonade, with a $28 price target.
- Yaron Kinar of Jefferies maintained an “underperform” rating, with a price target of $21 per share (down from $35 per share previously).
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
