Streetbeat News

ROOT

Root, Inc.

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 (NASDAQ:ROOT) reported Q2 2024 GAAP EPS of $(0.52), beating the analyst estimate of $(1.93) by 73.06%. Sales were $289.2M, surpassing the $264.771M estimate by 9.23%. This marks a significant improvement from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:50 pm

GeneDx Holdings Corp. (NASDAQ:WGS) has led the Russell 2000 Index in 2024 with a 1,101% increase in share price, driven by a shift to more comprehensive genetic testing. Goldman Sachs has raised its price target for GeneDx from $12.50 to $28, maintaining a Neutral rating. Other top performers include Corbus Holdings Inc. (NASDAQ:CRBP) and Root, Inc. (NASDAQ:ROOT).

Portfolio Pulse from Michael Juliano

July 18, 2024 | 5:36 pm

Cintas Corporation (NASDAQ:CTAS) reported better-than-expected quarterly earnings and revenues, leading to a 5.3% rise in its stock price. Other notable stock movements include Chuy’s Holdings (NASDAQ:CHUY) surging 47.6% after announcing an acquisition by Darden Restaurants (NYSE:DRI), and CommScope Holding (NASDAQ:COMM) jumping 19% following Amphenol's acquisition plans. Virtu Financial (NASDAQ:VIRT) and D.R. Horton (NYSE:DHI) also saw significant gains due to strong financial results.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 2:29 pm

Five financial stocks, Root Inc (ROOT), Bank of New York Mellon Corp (BK), Credit Acceptance Corp. (CACC), Northern Trust Corp (NTRS), and Heartland Financial USA Inc (HTLF), are identified as overbought with high RSI values, indicating potential short-term price declines.

Portfolio Pulse from Avi Kapoor

July 15, 2024 | 11:42 am

7 analysts have shared their evaluations of Root (NASDAQ:ROOT) over the past three months, showing a mix of bullish and bearish perspectives. The average 12-month price target has risen to $64.0, with a high estimate of $90.00 and a low estimate of $15.00. Analysts have raised their ratings and price targets, reflecting positive sentiment towards Root's recent performance.

Portfolio Pulse from Benzinga Insights

June 05, 2024 | 6:00 pm

TD Cowen analyst Andrew Kligerman maintains a Hold rating on Root (NASDAQ:ROOT) and raises the price target from $11 to $51.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 5:16 pm

Root's (NYSE:ROOT) short interest has fallen by 13.92%, with 1.12 million shares sold short, representing 11.87% of its float. This decrease in short interest could indicate a shift in market sentiment towards a more bullish outlook.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 3:00 pm

Root, Inc. (NYSE:ROOT) has seen a decrease in short interest, now at 13.3% of its float, down 7.25% from the last report. With 1.26 million shares sold short and a 2.0-day average to cover, this change may indicate shifting market sentiment. Root's short interest is significantly higher than its peer group average of 5.18%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 8:15 pm

Root Inc (NASDAQ:ROOT) was analyzed by 11 analysts, showing a mix of bullish to bearish sentiments. Recent ratings have shifted, with an average 12-month price target of $45.09, marking a 92.69% increase from the previous $23.40. Analysts from firms like Keefe, Bruyette & Woods, Wells Fargo, and JMP Securities have adjusted their ratings and price targets, reflecting optimism in Root's performance. Root's financials indicate a market cap below industry average, a significant revenue growth of 263.62%, but challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 5:01 pm

Keefe, Bruyette & Woods analyst Thomas McJoynt-Griffith reiterates an Outperform rating on Root (NASDAQ:ROOT) and raises the price target from $70 to $80.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:22 pm

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