Are Analysts Expecting A Better 2020 For Root Inc (ROOT)?

Root Inc (ROOT) concluded trading on Thursday at a closing price of $61.08, with 0.49 million shares of worth about $29.66 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 538.24% during that period and on March 28, 2024 the price saw a gain of about 8.99%. Currently the company’s common shares owned by public are about 9.50M shares, out of which, 6.49M shares are available for trading.

Stock saw a price change of 17.98% in past 5 days and over the past one month there was a price change of 118.38%. Year-to-date (YTD), ROOT shares are showing a performance of 482.82% which increased to 1386.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.63 but also hit the highest price of $60.58 during that period. The average intraday trading volume for Root Inc shares is 661.19K. The stock is currently trading 28.20% above its 20-day simple moving average (SMA20), while that difference is up 140.29% for SMA50 and it goes to 340.15% higher than SMA200.

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Root Inc (NASDAQ: ROOT) currently have 9.50M outstanding shares and institutions hold larger chunk of about 25.58% of that.

The stock has a current market capitalization of $891.77M and its 3Y-monthly beta is at 2.83. It has posted earnings per share of -$10.23 in the same period. It has a debt-to-equity ratio of 1.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ROOT, volatility over the week remained 9.03% while standing at 16.65% over the month.

Analysts are in expectations that Root Inc (ROOT) stock would likely to be making an EPS of -$2.59 in the current quarter, while forecast for next quarter EPS is -$2.53 and it is -$7.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$3.36 which is -$1.96 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$2.88 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 10.70% while it is estimated to increase by 34.81% in next year. EPS is likely to grow at an annualized rate of 41.30% for next 5-years, compared to annual growth of -15.84% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on March 01, 2024 offering a Buy rating for the stock and assigned a target price range of between $10 and $40 to it. Coverage by Keefe Bruyette stated Root Inc (ROOT) stock as an Outperform in their note to investors on February 26, 2024, suggesting a price target of $22 for the stock. Stock get a Hold rating from Jefferies on November 19, 2021.

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