Why Lemonade Stock Plummeted Today
Portfolio Pulse from Ryan Gustafson
Lemonade, Inc. (NYSE:LMND) shares dropped after the company reported Q2 financial results. Despite beating analyst consensus estimates for both losses per share and sales, the stock fell. Morgan Stanley analyst Michael Phillips maintained an Underweight rating for Lemonade and raised the price target from $14 to $15.
August 04, 2023 | 2:14 pm
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NEGATIVE IMPACT
Lemonade's Q2 results beat estimates but the stock fell. Morgan Stanley maintains an Underweight rating but raised the price target.
Despite Lemonade beating Q2 estimates, the stock fell, indicating that the market had expected better results. Morgan Stanley's Underweight rating suggests they believe the stock will underperform the market, which could have contributed to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100