Why Lemonade Stock Had a Topsy-Turvy Wednesday

The stock of Lemonade (NYSE: LMND) was shaken hard by the market on Wednesday. One day after the insurance tech specialist reported its latest quarterly results, several analysts cut their price targets on the stock; as a result, investors were hot and cold during the day, alternately trading the shares higher, then lower.

Finally, Lemonade ended the day down very slightly from Tuesday's level.

Wednesday morning, three analysts tracking Lemonade tweaked their targets. The most drastic of these adjustments came from JMP Securities' Ronald Josey, who lopped off $45, making his new price target $95 per share, Crucially, he's keeping his market outperform (i.e., buy) recommendation.

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Source Fool.com