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 readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool