Tuesday, January 26, 2021

Market Analysts see Root Inc. [ROOT] gaining to $13. Time to buy?

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Root Inc. [NASDAQ: ROOT] traded at a high on 01/13/21, posting a 20.51 gain after which it closed the day’ session at $23.15. The company report on January 6, 2021 that Root to Participate in Upcoming Virtual Investor Conferences.

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Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, announced that it will present and host meetings at the Citi 2021 Global TMT West Conference and the Goldman Sachs Technology and Internet Conference. Details for each event can be found below (times listed in EST):.


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Citi 2021 Global TMT West Conference.

The results of the trading session contributed to over 7675556 shares changing hands. Over the past one week, the price volatility of Root Inc. stands at 14.01% while the volatility over the past one month is 10.61%.

The market cap for ROOT stock reached $5.53 billion, with 238.73 million shares outstanding and 33.91 million shares in the current float. Compared to the average trading volume of 2.49M shares, ROOT reached a trading volume of 7675556 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 $22.83 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.

Credit Suisse have made an estimate for Root Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 18, 2020. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. 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 $26, while Truist analysts kept a Buy rating on ROOT stock.

The Average True Range (ATR) for Root Inc. is set at 1.83, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 13.73.

How has ROOT stock performed recently?

Root Inc. [ROOT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 38.37.

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 current RSI for ROOT stock in for the last two-week period is set at 69.99, with the RSI for the last a single of trading hit 77.94, and the three-weeks RSI is set at 62.02 for Root Inc. [ROOT]. The present Moving Average for the last 50 days of trading for this stock 17.94, while it was recorded at 19.73 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%.

Insider trade positions for Root Inc. [ROOT]

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1 institutional holders increased their position in Root Inc. [NASDAQ:ROOT] by around 150,000 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 150,000 shares, according to the latest SEC report filing. ROOT stock had 1 new institutional investments in for a total of 150,000 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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