Lemonade's (NYSE: LMND) stock price surged 14% during after-hours trading on Aug. 8 following its second-quarter report. The online-based auto, home, rent, pet, and term life insurer's revenue rose 77% year over year to $50 million, which beat analysts' estimates by $2.4 million. Its net loss widened from $55.6 million to $67.9 million, or $1.10 per share, but still cleared the consensus forecast by $0.22.
Do those better-than-expected numbers indicate it's finally safe to buy Lemonade's stock, which remains slightly below its IPO price of $29 per share after its post-earnings pop?
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Source Fool.com