Several brokerages have updated their recommendations and price targets on shares of Root (NASDAQ: ROOT) in the last few weeks:
- 11/22/2022 – Root had its price target lowered by analysts at Morgan Stanley from $20.93 to $8.50. They now have an “equal weight” rating on the stock.
- 11/17/2022 – Root is now covered by analysts at Keefe, Bruyette & Woods. They set a “market perform” rating and a $9.00 price target on the stock.
- 11/16/2022 – Root had its price target lowered by analysts at UBS Group AG to $9.00.
- 11/15/2022 – Root had its price target lowered by analysts at Truist Financial Co. from $22.50 to $9.00.
- 11/11/2022 – Root had its price target lowered by analysts at Barclays PLC from $17.00 to $8.00. They now have an “underweight” rating on the stock.
- 10/18/2022 – Root had its price target lowered by analysts at JMP Securities from $90.00 to $25.00. They now have a “market outperform” rating on the stock.
- 10/12/2022 – Root had its price target lowered by analysts at Wells Fargo & Company from $25.00 to $10.00. They now have an “equal weight” rating on the stock.
Root Stock Down 1.5 %
Shares of NASDAQ ROOT opened at $6.78 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.89. Root, Inc. has a 52 week low of $6.26 and a 52 week high of $77.76. The firm’s fifty day moving average is $8.05 and its 200 day moving average is $15.78. The company has a market cap of $95.60 million, a price-to-earnings ratio of -0.28 and a beta of 0.55.
Root (NASDAQ:ROOT – Get Rating) last posted its earnings results on Wednesday, November 9th. The company reported ($4.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.01) by $1.47. Root had a negative net margin of 102.25% and a negative return on equity of 78.93%. The business had revenue of $73.70 million for the quarter, compared to analysts’ expectations of $75.74 million. On average, equities research analysts expect that Root, Inc. will post -20.96 earnings per share for the current year.
Institutional Investors Weigh In On Root
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.
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