RoadzenRDZN
RDZN
About: Roadzen Inc is an insurance technology company on a mission to transform global auto insurance powered by advanced AI. Its clients comprise major insurers, fleets, and carmakers to small fleets, brokers, and insurance agents that use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. The company's work in telematics and computer vision has earned recognition as an AI innovator by publications such as Forbes, Fortune, and Financial Express.
Employees: 379
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
100% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 6
86% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 7
20% more funds holding
Funds holding: 30 [Q2] → 36 (+6) [Q3]
0.72% less ownership
Funds ownership: 7.77% [Q2] → 7.05% (-0.72%) [Q3]
51% less capital invested
Capital invested by funds: $11.8M [Q2] → $5.74M (-$6.06M) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$4
63%
upside
Avg. target
$5
103%
upside
High target
$6
144%
upside
2 analyst ratings
2 positive
100%
0 neutral
0%
0 negative
0%
Maxim Group Allen Klee 60% 1-year accuracy 9 / 15 met price target | 63%upside $4 | Buy Maintained | 15 Nov 2024 |
ThinkEquity Ashok Kumar 50% 1-year accuracy 5 / 10 met price target | 144%upside $6 | Buy Initiated | 28 Oct 2024 |
Financial journalist opinion
Based on 11 articles about RDZN published over the past 30 days
Neutral
GlobeNewsWire
2 days ago
Roadzen's drivebuddyAI Partners with Bosch to Advance AI-Driven Road Safety
Partnership expands global opportunity for Roadzen's AI-powered ADAS and DMS platform for Fleets and OEMs Partnership expands global opportunity for Roadzen's AI-powered ADAS and DMS platform for Fleets and OEMs
Neutral
GlobeNewsWire
3 days ago
Roadzen Expands its AI Based Claims Contract with One of the Top 10 P&C Insurers in India
NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced that its existing client National Insurance Company Ltd. (“NICL”) has expanded the geographical scope for Roadzen's AI powered XClaim Product. NICL has a total of 34 Regional Offices, of which 10 joined Roadzen's AI-powered XClaim platform. Based upon strong performance, NICL has expanded its contract with Roadzen to include an additional 4 regional offices, effective January 1, 2025.
Neutral
GlobeNewsWire
3 days ago
Roadzen Inc. Announces Closing of Public Offering
NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced the closing of its previously announced underwritten public offering of 2,300,000 ordinary shares (or pre-funded warrants (("Pre-funded Warrants")) in lieu thereof), including 300,000 shares sold upon full exercise of the underwriter's option to purchase additional shares (the “Offering”) at a public offering price of $1.25 per share (inclusive of the Pre-Funded Warrant exercise price), for gross proceeds of $2,875,000, before deducting underwriting discounts, commissions and Offering expenses. All of the ordinary shares (and/or Pre-funded Warrants) were sold by the Company.
Neutral
GlobeNewsWire
5 days ago
Roadzen Inc. Announces Pricing of Public Offering
NEW YORK, Dec. 15, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced the pricing of an underwritten public offering of 2,000,000 ordinary shares (or pre-funded warrants ("Pre-funded Warrants") in lieu thereof) at a public offering price of $1.25 per share (inclusive of the Pre-Funded Warrant exercise price), for gross proceeds of $2,500,000, before deducting underwriting discounts, commissions and offering expenses. All of the ordinary shares (and/or Pre-funded Warrants) are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares (and/or Pre-funded Warrants) at the public offering price less discounts and commissions, to cover over-allotments. The offering is expected to close on December 17, 2024, subject to satisfaction of customary closing conditions.
Neutral
GlobeNewsWire
1 week ago
Roadzen Wins Prestigious IFTA Excellence in InsurTech Award
NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, announced that it was honored today with the IFTA Excellence in InsurTech award by the India FinTech Forum. The award recognizes Roadzen's outstanding achievements in demonstrating exceptional innovation, efficiency, and customer impact in the insurance industry.
Neutral
GlobeNewsWire
1 week ago
Roadzen and Mizuho Agree To Extend Senior Debt Maturity by Full year to December 31, 2025
NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the intersection of insurance and mobility, today announced that it has reached an agreement in principle with Mizuho Securities USA LLC, a leading global investment bank and securities firm, to extend the maturity date of its $11.5 million 15% senior secured notes by one year, to December 31, 2025, providing additional financial flexibility for the Company. The completion of the extension is subject to, among other things, the negotiation of definitive agreements for the extension and satisfaction of the conditions negotiated therein.
Positive
MarketBeat
1 week ago
3 Beaten-Down Small Caps Building Momentum for a 2025 Rally
Beaten-down stocks can, at first glance, look like an opportunity to buy in at a cheap price. However, stocks usually have a reason to be down significantly.
Neutral
GlobeNewsWire
1 week ago
Roadzen Partners with Cimarron Underwriters, LLC to Secure MGA Licensing Capabilities Across All 50 U.S. States
NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced that it has executed a Memorandum of Understanding (MOU) for a partnership with Cimarron Underwriters, LLC (“Cimarron”). Through this proposed partnership, Roadzen will leverage Cimarron's nationwide Managing General Agent (MGA) licenses and infrastructure to expand the distribution of its insurance offerings across all 50 U.S. states.
Neutral
GlobeNewsWire
1 week ago
Roadzen's National Automobile Club Signs Contract with Motive, One of the Largest AI-powered Fleet Management Companies
New partnership delivers emergency roadside assistance and towing services with substantial savings to all Motive customers New partnership delivers emergency roadside assistance and towing services with substantial savings to all Motive customers
Neutral
GlobeNewsWire
1 week ago
Roadzen Chosen by One of the World's Largest LPG Carriers to Bring AI to its Fleet for Road Safety and Compliance
NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced that a leading liquefied petroleum gas (LPG) supplier in India—a wholly owned subsidiary of one of the world's largest LPG companies—will outfit its entire truck fleet with Roadzen's drivebuddyAI. The system will monitor driver fatigue and provide real-time feedback to drive improvements in safety and compliance.
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