why Root Inc. [ROOT] is a Good Choice for Investors After New Price Target of $7.25

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Root Inc. [NASDAQ: ROOT] loss -5.85% or -0.31 points to close at $4.99 with a heavy trading volume of 4543826 shares. The company report on October 22, 2021 that Root, Inc. Schedules Conference Call to Discuss Third Quarter 2021 Financial Results.

Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, announced its plans to host a conference call to discuss financial results for the third quarter of 2021 on Thursday, November 11, 2021 at 8:00 a.m. Eastern Time. The Company plans to release its third quarter 2021 results in the investor relations section of its website at ir.joinroot.com after the close of the financial markets on Wednesday, November 10, 2021.


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Webcast and Conference Call Details.

It opened the trading session at $5.28, the shares rose to $5.29 and dropped to $4.9576, the range by which the price of stock traded the whole day. The daily chart for ROOT points out that the company has recorded -54.01% loss over the past six months. However, it is still -7.31% lower than its most recent low trading price.

If we look at the average trading volume of 8.05M shares, ROOT reached to a volume of 4543826 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $7.25 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.

Wolfe Research have made an estimate for Root Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on August 17, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $16 to $7. The new note on the price target was released on August 13, 2021, representing the official price target for Root Inc. stock. Previously, the target price had yet another raise to $6, while Truist analysts kept a Hold rating on ROOT stock. On May 04, 2021, analysts decreased their price target for ROOT shares from 28 to 21.

The Average True Range (ATR) for Root Inc. is set at 0.35, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 5.11. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 3.66.

Trading performance analysis for ROOT stock

Root Inc. [ROOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.11. With this latest performance, ROOT shares dropped by -11.68% in over the last four-week period, additionally sinking by -54.01% 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 41.13, with the RSI for the last a single of trading hit 40.64, and the three-weeks RSI is set at 40.77 for Root Inc. [ROOT]. The present Moving Average for the last 50 days of trading for this stock 5.65, while it was recorded at 5.27 for the last single week of trading, and 10.57 for the last 200 days.

Root Inc. [ROOT]: A deeper dive into fundamental analysis

Root Inc. [ROOT]: An earnings per share (EPS) analysis

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 30.60%.

An analysis of insider ownership at Root Inc. [ROOT]

There are presently around $307 million, or 55.50% 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 4.20% of the total institutional ownership; SILVER LAKE GROUP, L.L.C., holding 9,259,259 shares of the stock with an approximate value of $46.2 million in ROOT stocks shares; and VANGUARD GROUP INC, currently with $28.34 million in ROOT stock with ownership of nearly 160.48% of the company’s market capitalization.

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65 institutional holders increased their position in Root Inc. [NASDAQ:ROOT] by around 15,116,218 shares. Additionally, 34 investors decreased positions by around 5,945,138 shares, while 16 investors held positions by with 40,392,106 shares. The mentioned changes placed institutional holdings at 61,453,462 shares, according to the latest SEC report filing. ROOT stock had 35 new institutional investments in for a total of 5,933,625 shares, while 20 institutional investors sold positions of 3,711,928 shares during the same period.

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