Shares of Root, Inc. (ROOT) experienced a significant downturn in Friday's pre-market trading, plummeting 5.20% following a notable price target cut by KBW analysts.

KBW, a respected financial services firm, reduced its target price for Root Inc. from $165 to $150. This adjustment represents a decrease of approximately 9% in the expected value of the stock, which appears to have triggered a negative reaction among investors.

The sharp decline in Root's stock price highlights the impact that analyst recommendations and price target changes can have on market sentiment. Investors often view such adjustments as indicators of a company's future performance prospects. As trading continues, it remains to be seen whether Root, Inc. can recover from this early setback or if the downward pressure will persist throughout the session.