Root Inc [NASDAQ: ROOT] stock went on an upward path that rose over 53.29% on Thursday, amounting to a one-week price increase of more than 52.41%. The company report on February 21, 2024 at 4:15 PM that Root, Inc. Announces 2023 Fourth Quarter and Full Year Results.
Root will host a conference call and earnings webcast to discuss the results and provide an update on company operations this evening, Wednesday, February 21, at 5:00 p.m. Eastern Time. To listen to the live audio webcast, please visit the News & Events section of Root’s Investor Relations website at ir.joinroot.com.
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Over the last 12 months, ROOT stock rose by 124.11%. The one-year Root Inc stock forecast points to a potential downside of -22.38. The average equity rating for ROOT stock is currently 2.71, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $194.03 million, with 9.50 million shares outstanding and 4.02 million shares in the current float. Compared to the average trading volume of 112.00K shares, ROOT stock reached a trading volume of 7248594 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $10.86 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 2.71. 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.
Cantor Fitzgerald have made an estimate for Root Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on Feb-23-24. While these analysts kept the previous recommendation, TD Cowen raised their target price to Market Perform. The new note on the price target was released on January 10, 2024, representing the official price target for Root Inc stock. Previously, the target price had yet another raise to $5.50, while Jefferies analysts kept a Hold rating on ROOT stock. On November 15, 2021, analysts decreased their price target for ROOT shares from 5 to 3.
The Average True Range (ATR) for Root Inc is set at 0.92, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 1.16.
ROOT Stock Performance Analysis:
Root Inc [ROOT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 52.41. With this latest performance, ROOT shares gained by 47.67% in over the last four-week period, additionally plugging by 47.34% over the last 6 months – not to mention a rise of 124.11% in the past year of trading.
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 77.07, with the RSI for the last a single of trading hit 83.43, and the three-weeks RSI is set at 71.43 for Root Inc [ROOT]. The present Moving Average for the last 50 days of trading for this stock 9.52, while it was recorded at 9.81 for the last single week of trading, and 9.24 for the last 200 days.
Insight into Root Inc Fundamentals:
Root Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.25.
ROOT Stock EPS
With the latest financial reports released by the company, Root Inc posted -2.88/share EPS, while the average EPS was predicted by analysts to be reported at -3.59/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 19.80%. 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 41.30%.
Root Inc [ROOT] Institutonal Ownership Details
The top three institutional holders of ROOT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ROOT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ROOT stock with ownership which is approximately 5.8325%.
