As Lemonade Slumps, One Analyst Sees a Potential 25% Upside
Technology-oriented insurance company Lemonade, Inc. (NYSE: LMND) ended today's trading at $86.75, down slightly more than $100 from its 52-week high. The plunge has continued despite positive fourth-quarter and full-year 2020 results released recently. The stock appears to be deemed so overvalued by investors, with such a high market cap sales multiple, that it is effectively impossible for its performance to catch up to its valuation, causing both shareholders and analysts to turn sharply bearish.
At least one analyst, however, thinks Lemonade is poised to recover its 2020 glory and rise to even higher share-value levels. Oppenheimer, hardly a lightweight in the analysis field, presented a bull case today, which is the diametric opposite of general sentiment about the stock.
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Source Fool.com
