Root (ROOT) Stock Forecast, Price & News

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Root in the last year. There are currently 1 sell rating, 8 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" ROOT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ROOT, but not buy additional shares or sell existing shares.
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10 brokerages have issued 1-year target prices for Root's stock. Their ROOT share price forecasts range from $3.00 to $15.00. On average, they predict the company's share price to reach $7.91 in the next year. This suggests that the stock has a possible downside of 23.9%.
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Root's stock was trading at $4.49 at the beginning of the year. Since then, ROOT stock has increased by 131.4% and is now trading at $10.39.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
View our ROOT earnings forecast.

Root, Inc. (NASDAQ:ROOT) released its earnings results on Wednesday, August, 2nd. The company reported ($2.55) earnings per share for the quarter, beating analysts' consensus estimates of ($3.00) by $0.45. The business had revenue of $74.80 million for the quarter, compared to analyst estimates of $73 million. Root had a negative net margin of 68.96% and a negative trailing twelve-month return on equity of 75.00%.

Root shares reverse split before market open on Monday, August 15th 2022. The 1-18 reverse split was announced on Monday, August 15th 2022. The number of shares owned by shareholders was adjusted after the closing bell on Monday, August 15th 2022. An investor that had 100 shares of stock prior to the reverse split would have 6 shares after the split.

(ROOT) raised $569 million in an initial public offering on Wednesday, October 28th 2020. The company issued 24,200,000 shares at $22.00-$25.00 per share. Goldman Sachs and Morgan Stanley served as the underwriters for the IPO and Barclays, Wells Fargo Securities, Credit Suisse, Deutsche Bank Securities, Evercore ISI, Truist Securities, Cantor, JMP Securities and Siebert Williams Shank were co-managers.

Root trades on the NASDAQ under the ticker symbol "ROOT."

Root's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Renaissance Technologies LLC (1.27%), BlackRock Inc. (0.85%), Geode Capital Management LLC (0.54%), Hudson Bay Capital Management LP (0.49%), Simplex Trading LLC (0.00%) and State Street Corp (0.26%). Insiders that own company stock include Daniel H Rosenthal, Daniel Manges, Lawrence A Hilsheimer, Mahtiyar Bonakdarpour and Meyer Malka.
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Shares of ROOT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ROOT stock can currently be purchased for approximately $10.39.

Root (NASDAQ:ROOT) has a market capitalization of $150.66 million and generates $310.80 million in revenue each year. The company earns $-297,700,000.00 in net income (profit) each year or ($14.10) on an earnings per share basis.

The company employs 765 workers across the globe.

The official website for the company is joinroot.com. The company can be reached via phone at 866-980-9431 or via email at ir@joinroot.com.