4 Analysts Have This To Say About Root
Portfolio Pulse from Benzinga Insights
In the latest quarter, 4 analysts provided mixed ratings for Root Inc (NASDAQ:ROOT), with an updated average 12-month price target of $14.75, marking a 43.9% increase from the previous target. Analysts from Keefe, Bruyette & Woods, Citigroup, Wells Fargo, and Cantor Fitzgerald have raised their price targets, reflecting optimism about Root's future performance. Root, a direct-to-consumer auto insurance and mobile technology company, has shown a significant revenue growth rate of 56.45% as of September 30, 2023, but struggles with profitability and debt management.
February 26, 2024 | 12:01 pm
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Root Inc received mixed analyst ratings with an increased average 12-month price target of $14.75. The company shows strong revenue growth but struggles with profitability and debt management.
The increase in the average price target by analysts suggests optimism about Root's future stock performance, potentially leading to a positive short-term impact on its stock price. However, the company's challenges with profitability and debt management could temper gains. The mixed ratings indicate a cautious but hopeful outlook from analysts, reflecting both Root's strong revenue growth and its operational challenges.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100