Lemonade price target lowered to $70 from $98 at Truist

Truist analyst Arvind Ramnani lowered the firm’s price target on Lemonade (LMND) to $70 from $98 and keeps a Buy rating on the shares. Lemonade reported a strong Q1 and reaffirmed robust FY26 growth, with in-force premium expansion accelerating for the tenth straight quarter and guidance pointing to over 30% growth, the analyst tells investors in a research note. Despite a share pullback, the company is viewed as a leading AI-driven insurer with structural advantages in data, technology, and cross-selling potential relative to traditional competitors, the firm says.