Lemonade, Inc. (LMND) Stock Price & Analysis
Lemonade, Inc. (LMND) closed at USD 45.41 on Thursday, October 22, 2026, up 0.29% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 45.28; the Oct 22, 2026 session ranged USD 44.42–46.24 on volume of 1,275,622 shares. Market capitalization is $3.51B, with a 52-week range of USD 42.7–99.9 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 11:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/LMND.md
Key facts (LMND)
- Last four reported quarters (through Jun 30, 2026): revenue $975M, net income -$138M (-14.2% margin), free cash flow $8.1M (SEC filings).
- Insider open-market sales, last ~7 months: 9 Form 4 filings, $7.4M; 5 not under a Rule 10b5-1 plan ($922K); 0 by opportunistic insiders, 7 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.82 on a 1–5 scale) (11 analysts), mean target USD 58.44 (range 38–92).
- Total return with dividends: 1Y -11.6% vs S&P 500 +14.9%; 5Y -28.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.58, revenue estimate $322M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (LMND)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $128M | $257M | $430M | $527M | $738M | $975M |
| Net income | -$241M | -$298M | -$237M | -$202M | -$166M | -$138M |
| EPS (diluted) | -$3.94 | -$4.59 | -$3.40 | -$2.85 | -$2.24 | — |
| Free cash flow | -$154M | -$173M | -$128M | -$20.8M | -$25.9M | $8.1M |
| Net margin | -187.9% | -116.0% | -55.1% | -38.4% | -22.4% | -14.2% |
| Revenue growth | +36.0% | +99.9% | +67.4% | +22.5% | +40.2% | — |
| Cash + short-term investments | $381M | $382M | $310M | $404M | $399M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (LMND)
P/S 3.6x · P/FCF 433.9x · P/B 7.0x · FCF yield 0.23% · Earnings yield -3.94%
Insider sales (SEC Form 4, open-market, last ~7 months) (LMND)
4 of 9 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-03…2026-09-04 | Peters John Sheldon | Chief Insurance Officer | 3,108 | $169K | 4% | Yes | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025) |
| 2026-09-03 | Prosor Maya | Chief Business Officer | 1,040 | $57K | 0.5% | No | Too little history (no open-market trades in 2023) |
| 2026-09-03 | Bixby Timothy E | Chief Financial Officer | 1,893 | $103K | 1.1% | No | Routine (sold in Mar & Jun & Sep each year 2023–2025) |
| 2026-08-13 | Peters John Sheldon | Chief Insurance Officer | 11,000 | $578K | 12.5% | No | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-07-07 | Bixby Timothy E | Chief Financial Officer | 73,000 | $5.8M | 29.5% | Yes (adopted March 13, 2026) | Routine (sold in Mar & Jun & Sep each year 2023–2025; this trade is outside those months) |
| 2026-07-06 | Peters John Sheldon | Chief Insurance Officer | 3,444 | $272K | 4.2% | Yes (adopted March 11, 2026) | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-06-03…2026-06-04 | Peters John Sheldon | Chief Insurance Officer | 5,343 | $283K | 6.2% | Yes | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025) |
| 2026-06-03 | Bixby Timothy E | Chief Financial Officer | 2,227 | $118K | 0.9% | No | Routine (sold in Mar & Jun & Sep each year 2023–2025) |
| 2026-06-03 | Prosor Maya | Chief Business Officer | 1,220 | $65K | 0.6% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (LMND)
Consensus Hold (mean 2.82 on a 1–5 scale), 11 analysts; mean target USD 58.44 (low 38, high 92).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-06 | Morgan Stanley | Target lowered | Equal-Weight | $56 → $48 |
| 2026-08-19 | Morgan Stanley | Target lowered | Equal-Weight | $65 → $56 |
| 2026-07-30 | Piper Sandler | Target lowered | Neutral | $75 → $51 |
| 2026-07-30 | Keefe, Bruyette & Woods | Upgrade | Underperform → Market Perform | $48 |
| 2026-07-15 | Piper Sandler | Target raised | Neutral | $62 → $75 |
| 2026-07-08 | Keefe, Bruyette & Woods | Target raised | Underperform | $44 → $48 |
| 2026-07-08 | Morgan Stanley | Downgrade | Overweight → Equal-Weight | $75 |
Total return (dividends reinvested) (LMND)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -11.6% | -28.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -11.7% | -6.5% |
| Volatility (annualized) | 78.2% | 79.0% |
| Max drawdown | -55.3% (Jan 2026→Oct 2026) | -84.8% (Nov 2021→Oct 2023) |
LMND suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | GC Customer Value Arranger | “On June 28, 2023, we entered into a Customer Investment Agreement (the "Agreement"), with GC Customer Value Arranger, LLC (a General Catalyst company) ("GC") under which GC agreed to provide up to $150 million of financing for our sales and marketing growth efforts through December 31, 2024.” |
| Customer | SAP (SAP) | “In developing SAP, insurance regulators were primarily concerned with evaluating an insurer's ability to pay all its current and future obligations to customers.” |
| Customer | Amazon (AMZN) | “AWS's facilities are vulnerable to damage or interruption from human error, intentional bad acts, earthquakes, floods, fires, severe storms, war, terrorist attacks, power losses, hardware failures, systems failures, telecommunications failures, and similar events, many of which are beyond our control, any of which could disrupt our services, prevent customers from accessing our products, destroy customer data, or …” |
| Customer | Apple (AAPL) | “Our ability to market and distribute our insurance products depends on maintaining cost-effective, satisfactory relationships with Apple and Google, as most of our customers access our services exclusively through their respective app stores.” |
| Customer | Alphabet (Google) (GOOGL) | “Our ability to market and distribute our insurance products depends on maintaining cost-effective, satisfactory relationships with Apple and Google, as most of our customers access our services exclusively through their respective app stores.” |
| Customer | Demotech | “While our Demotech, Inc. rating has proved satisfactory to date, we cannot assure that this rating will remain at its current level and it is possible that some prospective customers may be reluctant to do business with a company that is not rated by A.M.” |
Quoted from the company's 10-K filed Feb 25, 2026.
LMND company outlook (results filed Jul 29, 2026)
- “Below is our view of how we expect the third quarter and full year 2026 to shape up.”
Quoted word-for-word from the SEC 8-K results press release.
LMND analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.58 | $-0.53 | +9.4% | $322.3M | 10 |
| Next quarter (ends Dec 2026) | $-0.24 | $-0.18 | +28.0% | $340.4M | 10 |
| Current fiscal year (ends Dec 2026) | $-1.85 | $-1.73 | +7.3% | $1.22B | 11 |
| Next fiscal year (ends Dec 2027) | $-1.10 | $-0.82 | +33.8% | $1.64B | 12 |
LMND options: expected move
Options price a move of about ±16.9% (±$7.70) by Nov 6, 2026, which includes earnings on Nov 5, 2026; the earnings reaction alone is priced at about ±14.2%. Over the last 8 reports the stock moved ±19.7% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 55.6% | ±6.6% |
| Nov 6, 2026 | 14 | 104.5% | ±16.9% |
| Nov 13, 2026 | 21 | 83.3% | ±16.3% |
| Nov 20, 2026 | 28 | 84.6% | ±19.0% |
| Nov 27, 2026 | 35 | 79.8% | ±19.9% |
| Dec 4, 2026 | 42 | 75.8% | ±20.7% |
| Dec 18, 2026 | 56 | 70.8% | ±22.2% |
| Jan 15, 2027 | 84 | 66.1% | ±25.2% |
30-day implied volatility 82.8% vs 39.3% realized over the last 30 trading days. Put/call ratio (volume) 0.4. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:23 UTC)
| Price | USD 45.41 |
|---|---|
| Change | ▲ 0.29% (up) |
| Previous Close | USD 45.28 |
| Open | USD 44.42 |
| Day Range | USD 44.42 – 46.24 |
| 52-Week Range | USD 42.7 – 99.9 |
| Volume | 1,275,622 shares |
| Market Cap | $3.51B |
| Exchange | NYQ |
Technical Analysis (LMND)
Nexqual's technical model rates LMND "SELL" based on 1 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 11:23 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 42.62 (neutral) |
| vs SMA50 | Below (USD 48.62) |
| MACD | -1.08 (negative) |
Analyst Ratings (LMND)
Wall Street analysts rate LMND "Hold" based on 11 analysts, with a mean price target of USD 58.44 (range USD 38–92), per Nexqual as of October 23, 2026 at 11:23 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 11 |
| Mean Target | USD 58.44 |
| High Target | USD 92 |
| Low Target | USD 38 |
| Buy / Hold / Sell | 3 / 6 / 2 |
Earnings (LMND)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD -0.56 |
| Revenue Estimate | $322.27M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.56 vs est -0.56 ▲ beat |
| 2026-03-31 | USD -0.47 vs est -0.57 ▲ beat |
| 2025-12-31 | USD -0.29 vs est -0.39 ▲ beat |
| 2025-09-30 | USD -0.51 vs est -0.7 ▲ beat |
Source: Nexqual, October 23, 2026 at 11:23 UTC.
Financials & Fundamentals (LMND)
| Total Revenue | $975.00M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +79.40% |
| Gross Margin | +51.65% |
| Operating Margin | -11.82% |
| Profit Margin | -14.19% |
| ROE | -26.96% |
| Debt / Equity | 0.45 |
| Current Ratio | 1.19 |
| Total Cash | $376.80M |
| Total Debt | $226.40M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $8.10M (0.8% of revenue) |
Source: Nexqual, October 23, 2026 at 11:23 UTC.
Financial Health Score (LMND)
Nexqual rates Lemonade, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 11:23 UTC.
| Growth | Strong — Revenue +40% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 52%, operating -12% (last 12 months) |
| Balance Sheet | Solid — $377M cash vs $226M debt, net cash position |
| Cash Flow | Mixed — FCF $8M (last 4 quarters to Jun 2026, SEC), slim 0.8% margin |
| Efficiency | Critical — ROE -27%, ROA -3.3% |
Ownership (LMND)
| Insider Ownership | +8.56% |
|---|---|
| Institutional Ownership | +61.15% |
| Shares Outstanding | 77.40M |
| Float | 71.77M |
| Short % of Float | +16.09% |
Source: Nexqual, October 23, 2026 at 11:23 UTC.
Leadership (LMND)
Lemonade, Inc. is led by Daniel Asher Schreiber, CO-Founder, Chairman & CEO, per Nexqual as of October 23, 2026 at 11:23 UTC.
| CO-Founder, Chairman & CEO | Daniel Asher Schreiber |
|---|---|
| Co-Founder, President & Director | Shai Wininger Gavish |
| CFO, Principal Accounting Officer & Treasurer | Timothy E. Bixby |
| Chief Operating Officer | Adina Eckstein |
| Chief Product Officer | Michal Langer |
Major Backers & Investors (LMND)
Notable institutional backers of Lemonade, Inc. include JPMorgan, Baillie Gifford, Goldman Sachs, according to Nexqual as of October 23, 2026 at 11:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| JPMorgan | 6.97% |
| Baillie Gifford | 3.55% |
| Goldman Sachs | 2.5% |
| Morgan Stanley | 1.57% |
| Two Sigma Investments, LP | 1.52% |
| Fidelity | 1.43% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 8.03% |
| BlackRock | 7.81% |
| State Street | 2.29% |
| Geode Capital | 2.24% |
Source: Nexqual, October 23, 2026 at 11:23 UTC.
From Lemonade, Inc.'s Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- Further, the laws of certain countries do not protect proprietary rights to the same extent as the laws of the United States, and, therefore, in certain jurisdictions, we may be unable to protect our proprietary technology.
- Homeowners insurance policies in the United States are sold primarily via agents, making a platform that finds, onboards, and digitally serves consumers end-to-end very much an outlier.
- Our proprietary and entirely integrated technology stack is a key enabler of our strategy and business model.
- We generally enter into confidentiality agreements and invention of work product assignment agreements with our employees and consultants to control access to, and clarify ownership of, our proprietary information.
Partnerships
- With Lemonade's term life insurance offering individuals can apply online for up to $1.5 million or more in coverage, for a term of 10 to 40 years.
Legal & Regulatory Risks (Item 1A, quoted)
- Our proprietary artificial intelligence algorithms may not operate properly or as we expect them to, which could cause us to write policies we should not write, price those policies inappropriately or overpay claims that are made by our customers.
- Failure to maintain our risk-based capital at the required levels could adversely affect the ability of our insurance subsidiaries to maintain regulatory authority to conduct our business.
- We are periodically subject to examinations by our primary U.S. state insurance regulators, which could result in adverse examination findings and necessitate remedial actions.
- We may face particular privacy, data security, and data protection risks as we continue to expand into Europe and the UK in connection with the GDPR and other data protection regulations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| SLDE | Slide Insurance Holdings, Inc. | USD 27.75 | ▲ 2.36% |
| PLMR | Palomar Holdings, Inc. | USD 144.53 | ▲ 3.85% |
| SKWD | Skyward Specialty Insurance Gro | USD 62.16 | ▲ 1.24% |
| HCI | HCI Group, Inc. | USD 206.68 | ▲ 1.11% |
| WTM | White Mountains Insurance Group | USD 2,247.52 | ▲ 1.7% |
| SIGI | Selective Insurance Group, Inc. | USD 91.74 | ▲ 0.72% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:23 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt