Lemonade (LMND) Stock Moves -1.17%: What You Should Know
In the latest trading session, Lemonade (LMND) closed at $11.02, marking a -1.17% move from the previous day. This change was narrower than the S&P 500's 1.18% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 1.76%.
Coming into today, shares of the company had lost 3.3% in the past month. In that same time, the Finance sector lost 5.47%, while the S&P 500 lost 3.35%.
The upcoming earnings release of Lemonade will be of great interest to investors. The company's earnings report is expected on November 1, 2023. In that report, analysts expect Lemonade to post earnings of -$0.93 per share. This would mark year-over-year growth of 32.12%. Meanwhile, our latest consensus estimate is calling for revenue of $104.16 million, up 40.76% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.63 per share and revenue of $410.04 million, indicating changes of +20.92% and +59.74%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lemonade. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Lemonade holds 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 83, putting it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Lemonade, Inc. (LMND) : Free Stock Analysis Report
