Root Inc [ROOT] stock prices are up 12.58% to $70.34 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ROOT shares have gain 23.73% over the last week, with a monthly amount drifted -8.49%, and not seem to be holding up well over a long-time horizon.
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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.
The stock price of Root Inc [ROOT] has been fluctuating between $4.29 and $86.57 over the past year. Currently, Wall Street analysts expect the stock to reach $100.05 within the next 12 months. Root Inc [NASDAQ: ROOT] shares were valued at $70.34 at the most recent close of the market. An investor can expect a potential return of 42.24% based on the average ROOT price forecast.
Analyzing the ROOT fundamentals
The Root Inc [NASDAQ:ROOT] reported sales of 639.80M for trailing twelve months, representing a surge of 263.62%. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at -0.16%, Pretax Profit Margin comes in at -0.18%, and Net Profit Margin reading is -0.18%. To continue investigating profitability, this company’s Return on Assets is posted at -0.08, Equity is -0.54 and Total Capital is -0.08. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.81.
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 63.98 points at the first support level, and at 57.62 for the second support level. However, for the 1st resistance point, the stock is sitting at 73.67, and for the 2nd resistance point, it is at 77.00.
Root Inc [ROOT] reported earnings per share of -$0.42 for its fiscal quarter that ended on 3/31/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$2.48/share, meaning a difference of $2.06 and a surprise factor of 83.10%. By comparison, the stated earnings for the previous quarter ended on 12/31/2023 were -$1.64 per share as compared to estimates of -$2.79 per share, a difference of $1.15 representing a surprise of 41.20%.
Ratios To Look Out For
It’s worth pointing out that Root Inc [NASDAQ:ROOT]’s Current Ratio is 4.13. Considering the valuation of this stock, the price to sales ratio is 1.64, the price to book ratio is 6.20.
Transactions by insiders
Recent insider trading involved Malka Meyer, 10% Owner, that happened on May 02 ’24 when 13300.0 shares were sold. Chief Administrative Officer, Allison Jonathan completed a deal on Dec 05 ’23 to sell 4000.0 shares. Meanwhile, Chief Administrative Officer Allison Jonathan sold 4000.0 shares on Dec 01 ’23.
