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

U.S. stocks traded higher with the Nasdaq Composite up by 300 points. The Dow and S&P 500 also saw gains. U.S. jobless claims fell to 201,000, below market estimates. La Rosa Holdings, Root Inc., and Monopar Therapeutics saw significant stock price increases following positive news, while Draganfly, Greenbrook TMS, and Rivian Automotive experienced declines. Crude oil prices rose by 1.1%, and the U.S. housing market showed improvement with a 3.1% increase in existing-home sales.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 5:11 pm

NICE Ltd. reported better-than-expected Q4 financial results, leading to a 10.4% stock increase. Other companies like Root, Inc., Novavax, Inc., and NVIDIA Corporation also saw significant gains following positive financial results or settlements. The overall market sentiment was positive, with the Nasdaq Composite gaining more than 2%.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 4:33 pm

Traders are circulating an old publication from August 11, 2021, detailing Root Insurance's partnership with Carvana to develop personalized auto insurance for Carvana's car-buying platform. This was Root Insurance's first embedded partner.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 3:11 pm

Root Inc. shares surged following the announcement of better-than-expected Q4 financial results. Additionally, Cantor Fitzgerald upgraded Root's stock from Neutral to Overweight and increased the price target from $9 to $13.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 3:07 pm

In Thursday's pre-market session, several financial stocks showed significant movement. Root, Remitly Global, Lion Group Holding, and B. Riley Financial were among the top gainers, with notable increases in their share prices following their Q4 earnings releases. Conversely, CURO Group Holdings, MicroSectors FANG Index -3X Inverse Leveraged ETNs, Axis Capital Holdings, Carver Bancorp, Jackson Finl, and Cheche Group were the top losers, experiencing declines in their stock prices.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 1:06 pm

NVIDIA Corporation (NASDAQ:NVDA) shares surged 14.3% in pre-market trading after reporting Q4 financial results that exceeded expectations and provided strong Q1 revenue guidance. Other stocks also moved significantly in pre-market trading, with notable gainers including Agile Therapeutics, BuzzFeed, and Elevai Labs, among others. On the losing side, Draganfly, Synaptogenix, and Bel Fuse experienced significant drops following various announcements.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 12:55 pm

Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, including raising and lowering price targets for stocks like Wix.com Ltd. (WIX), Analog Devices, Inc. (ADI), and others. These changes reflect analysts' latest views on these companies, potentially influencing their stock prices in the short term.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 12:23 pm

Cantor Fitzgerald analyst Josh Siegler upgrades Root, Inc. (NASDAQ:ROOT) from Neutral to Overweight and increases the price target from $9 to $13.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 12:14 pm

Root Inc. (NASDAQ:ROOT) reported Q4 earnings with an EPS of $-1.64, surpassing the estimated $-2.79 by 41.22%. Revenue increased by $123.5 million year-over-year. Despite missing EPS estimates last quarter, ROOT's share price increased by 16.38% the following day. The company has shown improvement in both EPS and revenue over the past four quarters.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 9:55 pm

Root Inc. (NASDAQ:ROOT) reported Q4 2023 earnings with a GAAP EPS of $(1.64), surpassing the $(2.89) estimate, and sales of $194.80M, exceeding the $126.99M estimate. This represents a 173.21% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:53 pm

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