Market Analysts see Root Inc. [ROOT] falling to $21. Time to buy?

Root Inc. [NASDAQ: ROOT] jumped around 0.19 points on Tuesday, while shares priced at $8.15 at the close of the session, up 2.39%. The company report on June 24, 2021 that Root, Inc. Congratulates Washington Drivers on Credit Score-Free Car Insurance.

Company shares what drivers can expect as the state adopts fairer pricing.

Root, Inc. (NASDAQ: ROOT), the parent company of the Root Insurance family of insurance companies, shares insights with 5.9 million Washington drivers after the state removed credit score from its car insurance rating system.

Root Inc. stock is now -48.12% down from its year-to-date (YTD) trading value. ROOT Stock saw the intraday high of $8.2299 and lowest of $7.5601 per share. The company’s 52-week high price is 29.48, which means current price is +7.80% above from all time high which was touched on 01/13/21.

Compared to the average trading volume of 4.10M shares, ROOT reached a trading volume of 3899885 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]?

Cantor Fitzgerald have made an estimate for Root Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 04, 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 April 28, 2021, representing the official price target for Root Inc. stock. Previously, the target price had yet another raise to $9, while BofA Securities analysts kept a Underperform rating on ROOT stock.

The Average True Range (ATR) for Root Inc. is set at 0.64, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 6.14. The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 4.23.

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 -6.96. With this latest performance, ROOT shares dropped by -23.90% in over the last four-week period, additionally sinking by -57.13% over the last 6 months.

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 32.25, with the RSI for the last a single of trading hit 27.10, and the three-weeks RSI is set at 36.16 for Root Inc. [ROOT]. The present Moving Average for the last 50 days of trading for this stock 9.79, while it was recorded at 8.13 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 37.20%.

Insider trade positions for Root Inc. [ROOT]

There are presently around $411 million, or 58.40% 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 0% of the company’s market cap and around 5.50% of the total institutional ownership; SILVER LAKE GROUP, L.L.C., holding 9,259,259 shares of the stock with an approximate value of $75.46 million in ROOT stocks shares; and COATUE MANAGEMENT LLC, currently with $37.07 million in ROOT stock with ownership of nearly 0% of the company’s market capitalization.

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47 institutional holders increased their position in Root Inc. [NASDAQ:ROOT] by around 10,553,285 shares. Additionally, 42 investors decreased positions by around 10,453,521 shares, while 16 investors held positions by with 29,398,230 shares. The mentioned changes placed institutional holdings at 50,405,036 shares, according to the latest SEC report filing. ROOT stock had 26 new institutional investments in for a total of 8,570,973 shares, while 27 institutional investors sold positions of 6,772,860 shares during the same period.

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