At the time of writing, Root Inc [ROOT] stock is trading at $41.90, up 7.13%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ROOT shares have gain 84.09% over the last week, with a monthly amount glided 410.98%, and seem to be holding up well over a long-time horizon.
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On 21, February 2024, Root, Inc. Announces 2023 Fourth Quarter and Full Year Results. In a post published today on Yahoo Finance, Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, today announced financial results for the quarter and year end December 31, 2023. Root’s fourth quarter and full year financial results and management commentary can be found by accessing the shareholder letter posted to the company’s investor relations website at ir.joinroot.com.
From an analyst’s perspective:
Root Inc [NASDAQ: ROOT] stock has seen the most recent analyst activity on March 01, 2024, when Jefferies upgraded its rating to a Buy and also boosted its price target to $40 from $10. Previously, Keefe Bruyette upgraded its rating to Outperform on February 26, 2024, and elevated its price target to $22. On February 22, 2024, upgrade upgraded it’s rating to Overweight and revised its price target to $13 on the stock. TD Cowen started tracking the stock assigning a Market Perform rating. Jefferies initiated its recommendation with a Hold and recommended $5.50 as its price target on November 19, 2021. Barclays downgraded its rating to Underweight for this stock on November 15, 2021, and downed its price target to $3. In a note dated August 17, 2021, Wolfe Research initiated an Peer Perform rating and provided a target price of $5 on this stock.
For the past year, the stock price of Root Inc fluctuated between $3.31 and $41.96. Currently, Wall Street analysts expect the stock to reach $126.25 within the next 12 months. Root Inc [NASDAQ: ROOT] shares were valued at $41.90 at the most recent close of the market. An investor can expect a potential return of 201.31% based on the average ROOT price forecast.
Analyzing the ROOT fundamentals
According to Root Inc [NASDAQ:ROOT], the company’s sales were 455.00M for trailing twelve months, which represents an 173.21% jump. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at -0.35%, Pretax Profit Margin comes in at -0.32%, and Net Profit Margin reading is -0.27%. To continue investigating profitability, this company’s Return on Assets is posted at -0.1, Equity is -0.54 and Total Capital is -0.17. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.06.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 36.87 points at the first support level, and at 31.85 for the second support level. However, for the 1st resistance point, the stock is sitting at 45.16, and for the 2nd resistance point, it is at 48.43.
Ratios To Look Out For
It is important to note that Root Inc [NASDAQ:ROOT] has a current ratio of 4.25. Considering the valuation of this stock, the price to sales ratio is 1.34, the price to book ratio is 3.67.
Transactions by insiders
Recent insider trading involved Allison Jonathan, Chief Administrative Officer, that happened on Dec 05 when 4000.0 shares were sold. Chief Administrative Officer, Allison Jonathan completed a deal on Dec 01 to sell 4000.0 shares. Meanwhile, Chief Administrative Officer Allison Jonathan sold 8000.0 shares on Nov 15.
