Why Root Stock Zoomed Almost 26% Higher This Week

One of the better-performing financial stocks over the past few days hasn't been a famous bank or a prominent credit card company. Booking a share price gain of nearly 26% over the course of this week, according to data compiled by S&P Global Market Intelligence, was insurance company Root (NASDAQ: ROOT). A significant analyst price target raise was a key reason for this.On Tuesday, Keefe, Bruyette & Woods' Tommy McJoynt lifted his fair value assessment for Root to $150 per share while maintaining his outperform (read: buy) recommendation on the stock. That was quite some distance higher than McJoynt's previous price target of $90. The analyst's adjustment came in advance of Root's first-quarter earnings release, slated for release on Wednesday, May 7. According to reports, McJoynt considers the stock to be a top pick in the insurance tech space, as he feels it could well exceed the consensus analyst estimates for 2025 to 2027.Continue reading

Apr 25, 2025 - 22:33

Why Root Stock Zoomed Almost 26% Higher This Week

One of the better-performing financial stocks over the past few days hasn't been a famous bank or a prominent credit card company. Booking a share price gain of nearly 26% over the course of this week, according to data compiled by S&P Global Market Intelligence, was insurance company Root (NASDAQ: ROOT). A significant analyst price target raise was a key reason for this.

On Tuesday, Keefe, Bruyette & Woods' Tommy McJoynt lifted his fair value assessment for Root to $150 per share while maintaining his outperform (read: buy) recommendation on the stock. That was quite some distance higher than McJoynt's previous price target of $90.

The analyst's adjustment came in advance of Root's first-quarter earnings release, slated for release on Wednesday, May 7. According to reports, McJoynt considers the stock to be a top pick in the insurance tech space, as he feels it could well exceed the consensus analyst estimates for 2025 to 2027.