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Root, Inc. (ROOT) Soars 59.8%: Is Further Upside Left in the Stock?
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Root, Inc. (ROOT - Free Report) shares ended the last trading session 59.8% higher at $9.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.1% gain over the past four weeks.
Pricing, improved segmentation models and underwriting actions, marketing spend, scaling embedded partnerships, and lowering expenses will drive the insurer.
With a loss ratio better than the industry, the company is well positioned to scale up new writings. The company stated that its API developments have been aiding in scaling and adding new partnerships while lowering costs.
This company is expected to post quarterly loss of $3 per share in its upcoming report, which represents a year-over-year change of +53.6%. Revenues are expected to be $73 million, down 9.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Root, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ROOT going forward to see if this recent jump can turn into more strength down the road.
Root, Inc. belongs to the Zacks Insurance - Property and Casualty industry. Another stock from the same industry, Arch Capital Group (ACGL - Free Report) , closed the last trading session 1.4% higher at $71.77. Over the past month, ACGL has returned -3.3%.
For Arch Capital, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.68. This represents a change of +25.4% from what the company reported a year ago. Arch Capital currently has a Zacks Rank of #3 (Hold).
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Root, Inc. (ROOT) Soars 59.8%: Is Further Upside Left in the Stock?
Root, Inc. (ROOT - Free Report) shares ended the last trading session 59.8% higher at $9.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.1% gain over the past four weeks.
Pricing, improved segmentation models and underwriting actions, marketing spend, scaling embedded partnerships, and lowering expenses will drive the insurer.
With a loss ratio better than the industry, the company is well positioned to scale up new writings. The company stated that its API developments have been aiding in scaling and adding new partnerships while lowering costs.
This company is expected to post quarterly loss of $3 per share in its upcoming report, which represents a year-over-year change of +53.6%. Revenues are expected to be $73 million, down 9.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Root, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ROOT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Root, Inc. belongs to the Zacks Insurance - Property and Casualty industry. Another stock from the same industry, Arch Capital Group (ACGL - Free Report) , closed the last trading session 1.4% higher at $71.77. Over the past month, ACGL has returned -3.3%.
For Arch Capital, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.68. This represents a change of +25.4% from what the company reported a year ago. Arch Capital currently has a Zacks Rank of #3 (Hold).