Lemonade (LMND) Stock Moves -1.26%: What You Should Know
Lemonade (LMND) closed the most recent trading day at $11.72, moving -1.26% from the previous trading session. The stock's performance was in sync with S&P 500. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
The company's stock has dropped by 2.7% in the past month, exceeding the Finance sector's loss of 5.97% and the S&P 500's loss of 3.67%.
The investment community will be closely monitoring the performance of Lemonade in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2023. On that day, Lemonade is projected to report earnings of -$0.93 per share, which would represent year-over-year growth of 32.12%. In the meantime, our current consensus estimate forecasts the revenue to be $104.16 million, indicating a 40.76% growth compared to the corresponding quarter of the prior year.
LMND's full-year Zacks Consensus Estimates are calling for earnings of -$3.63 per share and revenue of $410.04 million. These results would represent year-over-year changes of +20.92% and +59.74%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lemonade. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Lemonade is currently sporting a Zacks Rank of #2 (Buy).
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Lemonade, Inc. (LMND) : Free Stock Analysis Report
