Root Inc. [ROOT] moved down -13.53: Why It’s Important

Root Inc. [NASDAQ: ROOT] traded at a low on 12/02/20, posting a -13.53 loss after which it closed the day’ session at $14.70. The company report on December 2, 2020 that Root, Inc. Announces 2020 Third Quarter Results.

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Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, announced financial results for the quarter ended September 30, 2020. Root’s third quarter 2020 financial results and management commentary can be found by accessing the shareholder letter posted to the company’s investor relations website at ir.joinroot.com.

Root will host a conference call and earnings webcast to discuss the results at 5:00 p.m. Eastern Time. To listen to the live audio webcast, please visit the Events section of Root’s Investor Relations website at ir.joinroot.com. A replay will be available on the same website following the call.

The results of the trading session contributed to over 3176970 shares changing hands. Over the past one week, the price volatility of Root Inc. stands at 5.54% while the volatility over the past one month is 6.81%.

The market cap for ROOT stock reached $3.62 billion, with 246.17 million shares outstanding and 33.91 million shares in the current float. Compared to the average trading volume of 2.38M shares, ROOT reached a trading volume of 3176970 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Root Inc. [ROOT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROOT shares is $23.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROOT stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Root Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 23, 2020. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on November 23, 2020, representing the official price target for Root Inc. stock. Previously, the target price had yet another raise to $23, while Morgan Stanley analysts kept a Equal-Weight rating on ROOT stock.

The Average True Range (ATR) for Root Inc. is set at 1.62, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 8.39.

How has ROOT stock performed recently?

Root Inc. [ROOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.13.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The RSI for the last a single of trading hit 20.32, and the three-weeks RSI is set at 20.06 for Root Inc. [ROOT], while it was recorded at 16.73 for the last single week of trading.

Root Inc. [ROOT]: Deeper insight into the fundamentals

Earnings analysis for Root Inc. [ROOT]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ROOT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Root Inc. go to 8.56%.

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