Lemonade, Inc.

NYSE:LMND Stock Report

Market Cap: US$3.6b

Lemonade Valuation

Is LMND undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of LMND when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate LMND's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate LMND's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LMND?

Key metric: As LMND is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for LMND. This is calculated by dividing LMND's market cap by their current revenue.
What is LMND's PS Ratio?
PS Ratio7.1x
SalesUS$492.50m
Market CapUS$3.60b

Price to Sales Ratio vs Peers

How does LMND's PS Ratio compare to its peers?

The above table shows the PS ratio for LMND vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.6x
SKWD Skyward Specialty Insurance Group
2x12.1%US$2.1b
TRUP Trupanion
1.8x5.0%US$2.2b
HG Hamilton Insurance Group
0.8x9.4%US$1.9b
PLMR Palomar Holdings
5.7x20.1%US$2.9b
LMND Lemonade
7.1x22.3%US$3.6b

Price-To-Sales vs Peers: LMND is expensive based on its Price-To-Sales Ratio (7.1x) compared to the peer average (2.6x).

Price to Sales Ratio vs Industry

How does LMND's PS Ratio compare vs other companies in the US Insurance Industry?

9 CompaniesPrice / SalesEstimated GrowthMarket Cap
GOCO GoHealth
0.2x8.0%US$263.41m
CCG Cheche Group
0.1x5.6%US$67.73m
AAME Atlantic American
0.2xn/aUS$33.25m
CNFR Conifer Holdings
0.2xn/aUS$14.67m
LMND 7.1xIndustry Avg. 1.1xNo. of Companies19PS00.81.62.43.24+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: LMND is expensive based on its Price-To-Sales Ratio (7.1x) compared to the US Insurance industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is LMND's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LMND PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.1x
Fair PS Ratio1.5x

Price-To-Sales vs Fair Ratio: LMND is expensive based on its Price-To-Sales Ratio (7.1x) compared to the estimated Fair Price-To-Sales Ratio (1.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst LMND forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$49.28
US$30.86
-37.4%
53.1%US$60.00US$15.00n/a7
Nov ’25US$24.15
US$20.00
-17.2%
45.5%US$40.00US$11.00n/a7
Oct ’25US$16.15
US$19.14
+18.5%
46.0%US$40.00US$11.00n/a7
Sep ’25US$18.53
US$19.14
+3.3%
46.0%US$40.00US$11.00n/a7
Aug ’25US$17.30
US$19.29
+11.5%
46.0%US$40.00US$11.00n/a7
Jul ’25US$16.46
US$19.29
+17.2%
45.3%US$40.00US$11.00n/a7
Jun ’25US$16.51
US$19.29
+16.8%
45.3%US$40.00US$11.00n/a7
May ’25US$17.34
US$18.71
+7.9%
48.3%US$40.00US$10.00n/a7
Apr ’25US$16.56
US$18.43
+11.3%
49.8%US$40.00US$10.00n/a7
Mar ’25US$16.92
US$18.14
+7.2%
50.8%US$40.00US$10.00n/a7
Feb ’25US$16.18
US$18.00
+11.2%
51.6%US$40.00US$10.00n/a7
Jan ’25US$16.13
US$17.83
+10.6%
57.2%US$40.00US$10.00n/a6
Dec ’24US$18.30
US$17.71
-3.2%
53.4%US$40.00US$10.00n/a7
Nov ’24US$11.00
US$18.88
+71.6%
49.2%US$40.00US$9.00US$24.158
Oct ’24US$11.62
US$18.56
+59.7%
47.1%US$40.00US$9.00US$16.159
Sep ’24US$14.06
US$18.44
+31.2%
48.1%US$40.00US$8.00US$18.539
Aug ’24US$22.60
US$18.67
-17.4%
47.3%US$40.00US$8.00US$17.309
Jul ’24US$16.85
US$18.61
+10.5%
48.1%US$40.00US$8.00US$16.469
Jun ’24US$17.81
US$19.19
+7.7%
48.7%US$40.00US$8.00US$16.518
May ’24US$11.31
US$18.83
+66.5%
46.1%US$40.00US$10.00US$17.349
Apr ’24US$14.26
US$19.00
+33.2%
45.0%US$40.00US$10.00US$16.569
Mar ’24US$15.20
US$19.00
+25.0%
45.0%US$40.00US$10.00US$16.929
Feb ’24US$16.70
US$20.06
+20.1%
46.0%US$40.00US$10.00US$16.189
Jan ’24US$13.68
US$22.25
+62.6%
37.2%US$40.00US$14.00US$16.138
Dec ’23US$18.99
US$22.89
+20.5%
35.0%US$40.00US$14.00US$18.309
Nov ’23US$24.04
US$25.63
+6.6%
33.1%US$40.00US$14.00US$11.008

Analyst Forecast: Target price is lower than the current share price.

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