Porch Group Inc. [NASDAQ: PRCH] stock went on a downward path that fall over -0.82% on Thursday, amounting to a one-week price decrease of less than -19.46%. The company report on December 6, 2021 that Porch Announces Newest Pay-At-Close Module for Home Inspection Companies.
Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services industry, today announced the addition of a new module to its suite of software solutions provided to home inspection companies through its inspection software business, Inspection Support Network (“ISN”). Now, Porch can provide agents and homebuyers the ability to pay for their home inspection at the close of a home purchase, in addition to Porch’s ability to facilitate the payment processing at the time of inspection.
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Through the innovative pay-at-close program, ISN will manage the complexity of both providing payment to the inspector at time of inspection, as well as invoice the escrow company on behalf of the homebuyer to defer payment to the close of escrow. The first-of-its-kind program simultaneously addresses the needs of homebuyers, agents, and inspectors, while also continuing to expand the value proposition Porch provides through its ISN software.
Over the last 12 months, PRCH stock rose by 2.00%. The one-year Porch Group Inc. stock forecast points to a potential upside of 57.14. The average equity rating for PRCH stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.37 billion, with 103.41 million shares outstanding and 75.73 million shares in the current float. Compared to the average trading volume of 1.30M shares, PRCH stock reached a trading volume of 3057214 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Porch Group Inc. [PRCH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRCH shares is $30.89 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRCH stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Porch Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 23, 2021. While these analysts kept the previous recommendation, Loop Capital raised their target price to Buy. The new note on the price target was released on November 01, 2021, representing the official price target for Porch Group Inc. stock. Previously, the target price had yet another raise to $23, while Guggenheim analysts kept a Buy rating on PRCH stock.
The Average True Range (ATR) for Porch Group Inc. is set at 1.30, with the Price to Sales ratio for PRCH stock in the period of the last 12 months amounting to 6.42. The Price to Book ratio for the last quarter was 6.65, with the Price to Cash per share for the same quarter was set at 4.06.
PRCH Stock Performance Analysis:
Porch Group Inc. [PRCH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.46. With this latest performance, PRCH shares dropped by -30.28% in over the last four-week period, additionally sinking by -30.50% over the last 6 months – not to mention a rise of 2.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRCH stock in for the last two-week period is set at 26.52, with the RSI for the last a single of trading hit 21.35, and the three-weeks RSI is set at 30.83 for Porch Group Inc. [PRCH]. The present Moving Average for the last 50 days of trading for this stock 19.66, while it was recorded at 14.45 for the last single week of trading, and 18.06 for the last 200 days.
Insight into Porch Group Inc. Fundamentals:
Porch Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.
Porch Group Inc. [PRCH] Insider Position Details
There are presently around $1,063 million, or 81.90% of PRCH stock, in the hands of institutional investors. The top three institutional holders of PRCH stocks are: FMR LLC with ownership of 14,510,132, which is approximately 0.561% of the company’s market cap and around 7.20% of the total institutional ownership; SOUTHPOINT CAPITAL ADVISORS LP, holding 6,900,000 shares of the stock with an approximate value of $92.11 million in PRCH stocks shares; and CAPITAL WORLD INVESTORS, currently with $85.6 million in PRCH stock with ownership of nearly 0% of the company’s market capitalization.
87 institutional holders increased their position in Porch Group Inc. [NASDAQ:PRCH] by around 18,536,231 shares. Additionally, 39 investors decreased positions by around 3,963,326 shares, while 14 investors held positions by with 57,110,014 shares. The mentioned changes placed institutional holdings at 79,609,571 shares, according to the latest SEC report filing. PRCH stock had 33 new institutional investments in for a total of 5,471,920 shares, while 13 institutional investors sold positions of 1,394,925 shares during the same period.