Streetbeat News

ROOT

Root, Inc.

https://joinroot.com

Industry

Insurance - Property & Casualty

Root, Inc. provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. The company operates a direct-to-consumer model and serves customers primarily through mobile applications, as well as through its website. Its direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies. The company was incorporated in 2015 and is headquartered in Columbus, Ohio.

Open

90.34

Mkt cap

1.4B

Volume

571K

High

97.75

P/E Ratio

-83.23

52-wk high

118.15

Low

86.58

Div yield

N/A

52-wk low

7.22

Root shares surged as Wells Fargo maintained a Buy rating and increased its price target from $64 to $78.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 7:58 pm

Wells Fargo analyst Elyse Greenspan has maintained an Equal-Weight rating on Root (NASDAQ:ROOT) and increased the price target from $64 to $78.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 6:51 pm

U.S. stocks fell with the Nasdaq down 500 points. Uber shares dropped over 10% despite beating earnings expectations. Root, Alphatec, and Lemonade saw significant gains after positive earnings reports, while Matinas BioPharma, Aurora Innovation, and COMPASS Pathways experienced sharp declines.

Portfolio Pulse from Avi Kapoor

October 31, 2024 | 6:43 pm

Root, Inc. (NASDAQ:ROOT) shares surged after reporting better-than-expected Q3 earnings, achieving net income profitability for the first time. The company beat EPS and revenue estimates, driven by strategic investments and operational efficiency. Root also refinanced its debt, reducing interest expenses significantly.

Portfolio Pulse from Vaishali Prayag

October 31, 2024 | 5:24 pm

U.S. stocks traded lower with significant movements in Meta Platforms, Root, Alphatec Holdings, Matinas BioPharma, Aurora Innovation, and COMPASS Pathways. Meta's shares fell after Q3 results, while Root and Alphatec surged on positive earnings. Matinas, Aurora, and COMPASS Pathways saw declines due to negative news.

Portfolio Pulse from Avi Kapoor

October 31, 2024 | 4:04 pm

Roblox Corporation reported better-than-expected Q3 results, leading to a 21.5% stock surge. Other companies like Root, Alphatec, and Lemonade also saw significant gains due to strong earnings reports.

Portfolio Pulse from Avi Kapoor

October 31, 2024 | 2:23 pm

U.S. stocks fell with the Nasdaq down over 1% and Microsoft shares dropping 5% after Q1 results. Energy shares rose, while information technology shares fell. Root, Inc. surged 138% on strong Q3 results, while Matinas BioPharma dropped 64% after terminating a negotiation.

Portfolio Pulse from Avi Kapoor

October 31, 2024 | 1:56 pm

Root shares increased following the release of their Q3 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 1:05 pm

Carvana Co. (NYSE:CVNA) shares surged over 20% in pre-market trading after reporting better-than-expected Q3 financial results, with revenue and earnings per share surpassing analyst estimates. Other notable pre-market movers include Root, Inc. (NASDAQ:ROOT) and Alphatec Holdings, Inc. (NASDAQ:ATEC), both rising significantly due to strong quarterly results.

Portfolio Pulse from Avi Kapoor

October 31, 2024 | 10:52 am

Root (NASDAQ:ROOT) reported Q3 2024 earnings of $1.35 per share, significantly beating the analyst estimate of $(0.98). Sales reached $305.7M, surpassing the $275.356M estimate and marking a 165.13% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 9:02 pm

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