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Why Lemonade (LMND) Outpaced the Stock Market Today
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In the latest market close, Lemonade (LMND - Free Report) reached $17.90, with a +1.19% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.04%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.28%.
Heading into today, shares of the company had gained 6.18% over the past month, outpacing the Finance sector's gain of 3.66% and the S&P 500's gain of 5.01% in that time.
The upcoming earnings release of Lemonade will be of great interest to investors. The company's earnings report is expected on February 27, 2024. The company is predicted to post an EPS of -$0.79, indicating a 15.05% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $113.1 million, showing a 27.94% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lemonade. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Lemonade possesses a Zacks Rank of #3 (Hold).
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Lemonade (LMND) Outpaced the Stock Market Today
In the latest market close, Lemonade (LMND - Free Report) reached $17.90, with a +1.19% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.04%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.28%.
Heading into today, shares of the company had gained 6.18% over the past month, outpacing the Finance sector's gain of 3.66% and the S&P 500's gain of 5.01% in that time.
The upcoming earnings release of Lemonade will be of great interest to investors. The company's earnings report is expected on February 27, 2024. The company is predicted to post an EPS of -$0.79, indicating a 15.05% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $113.1 million, showing a 27.94% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lemonade. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Lemonade possesses a Zacks Rank of #3 (Hold).
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.