In the latest trading session, Lemonade (LMND) closed at $17.67, marking a -1.89% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.48% for the day. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq decreased by 0.82%.
Prior to today's trading, shares of the company had gained 12.56% over the past month. This has outpaced the Finance sector's gain of 3.8% and the S&P 500's gain of 5.3% in that time.
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 February 27, 2024. The company is forecasted to report an EPS of -$0.79, showcasing a 15.05% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $113.1 million, indicating a 27.94% upward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Lemonade. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Lemonade is currently sporting a Zacks Rank of #3 (Hold).
The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LMND in the coming trading sessions, be sure to utilize Zacks.com.
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