Market Analysts see Root Inc. [ROOT] gaining to $9. Time to buy?

Root Inc. [NASDAQ: ROOT] traded at a high on 03/25/21, posting a 4.89 gain after which it closed the day’ session at $12.87. The company report on March 26, 2021 that SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Root Inc., of Class Action Lawsuit and Upcoming Deadline – ROOT.

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Pomerantz LLP announces that a class action lawsuit has been filed against Root Inc. (“Root” or the “Company”) (NASDAQ:ROOT) and certain of its officers. The class action, filed in the United States District Court for the Southern District of Ohio, Eastern Division, and docketed under 21-cv-01197, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Root securities between October 28, 2020 and March 8, 2021, both dates inclusive (the “Class Period”); and


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If you are a shareholder who purchased Root securities during the Class Period and/or pursuant and/or traceable to the IPO, you have until May 18, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The results of the trading session contributed to over 6800647 shares changing hands. Over the past one week, the price volatility of Root Inc. stands at 11.82% while the volatility over the past one month is 10.49%.

The market cap for ROOT stock reached $3.02 billion, with 254.38 million shares outstanding and 32.17 million shares in the current float. Compared to the average trading volume of 2.65M shares, ROOT reached a trading volume of 6800647 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 $20.08 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 2.80. 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.

BofA Securities have made an estimate for Root Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on December 18, 2020, representing the official price target for Root Inc. stock. Previously, the target price had yet another raise to $27, while Wells Fargo analysts kept a Overweight rating on ROOT stock.

The Average True Range (ATR) for Root Inc. is set at 1.29, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 8.71. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 4.74.

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 15.01.

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 43.38, with the RSI for the last a single of trading hit 51.99, and the three-weeks RSI is set at 41.11 for Root Inc. [ROOT]. The present Moving Average for the last 50 days of trading for this stock 16.92, while it was recorded at 12.28 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 33.90%.

Insider trade positions for Root Inc. [ROOT]

There are presently around $646 million, or 85.30% of ROOT stock, in the hands of institutional investors. The top three institutional holders of ROOT stocks are: DRAGONEER INVESTMENT GROUP, LLC with ownership of 9,259,259, which is approximately New of the company’s market cap and around 47.80% of the total institutional ownership; SILVER LAKE GROUP, L.L.C., holding 9,259,259 shares of the stock with an approximate value of $119.17 million in ROOT stocks shares; and COATUE MANAGEMENT LLC, currently with $58.53 million in ROOT stock with ownership of nearly New of the company’s market capitalization.

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78 institutional holders increased their position in Root Inc. [NASDAQ:ROOT] by around 50,218,091 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 50,218,091 shares, according to the latest SEC report filing. ROOT stock had 78 new institutional investments in for a total of 50,218,091 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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