Oppenheimer lifts Porch Group Inc. [PRCH] price estimate. Who else is bullish?


Porch Group Inc. [NASDAQ: PRCH] stock went on an upward path that rose over 8.36% on Wednesday, amounting to a one-week price decrease of less than -11.25%. The company report on May 10, 2022 that Porch Group Reports First Quarter 2022 Results; Affirms 2022 Guidance.

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Reports $62.6 Million of Revenue, up 134% Year-Over-Year.

Porch Group, Inc. (“Porch”,” Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today reported first quarter revenues of $62.6 million, compared to first quarter 2021 revenues of $26.7 million, in line with company expectations.

Over the last 12 months, PRCH stock dropped by -73.98%. The one-year Porch Group Inc. stock forecast points to a potential upside of 80.16. The average equity rating for PRCH stock is currently 1.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $362.31 million, with 99.81 million shares outstanding and 80.30 million shares in the current float. Compared to the average trading volume of 2.05M shares, PRCH stock reached a trading volume of 5174185 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 $18.30 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 1.60. 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.

Oppenheimer have made an estimate for Porch Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, Northland Capital dropped their target price from $30 to $25. The new note on the price target was released on March 02, 2022, representing the official price target for Porch Group Inc. stock. Previously, the target price had yet another raise from $16 to $22, while Loop Capital kept a Buy rating on PRCH stock. On March 02, 2022, analysts decreased their price target for PRCH shares from 30 to 25.

The Average True Range (ATR) for Porch Group Inc. is set at 0.49, with the Price to Sales ratio for PRCH stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 3.26.

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 -11.25. With this latest performance, PRCH shares dropped by -38.89% in over the last four-week period, additionally sinking by -84.33% over the last 6 months – not to mention a drop of -73.98% 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 32.93, with the RSI for the last a single of trading hit 34.09, and the three-weeks RSI is set at 33.65 for Porch Group Inc. [PRCH]. The present Moving Average for the last 50 days of trading for this stock 5.85, while it was recorded at 3.61 for the last single week of trading, and 14.06 for the last 200 days.

Insight into Porch Group Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Porch Group Inc. [PRCH] shares currently have an operating margin of -41.42 and a Gross Margin at +69.48. Porch Group Inc.’s Net Margin is presently recorded at -55.40.

Return on Equity for this stock declined to -65.73, with Return on Assets sitting at -16.31.

Porch Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Porch Group Inc. [PRCH] Insider Position Details

There are presently around $306 million, or 91.60% of PRCH stock, in the hands of institutional investors. The top three institutional holders of PRCH stocks are: FMR LLC with ownership of 14,094,081, which is approximately -2.867% of the company’s market cap and around 10.00% of the total institutional ownership; VULCAN VALUE PARTNERS, LLC, holding 12,132,590 shares of the stock with an approximate value of $40.64 million in PRCH stocks shares; and SOUTHPOINT CAPITAL ADVISORS LP, currently with $23.45 million in PRCH stock with ownership of nearly 1.449% of the company’s market capitalization.

Positions in Porch Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 89 institutional holders increased their position in Porch Group Inc. [NASDAQ:PRCH] by around 21,549,304 shares. Additionally, 63 investors decreased positions by around 9,513,345 shares, while 13 investors held positions by with 60,249,587 shares. The mentioned changes placed institutional holdings at 91,312,236 shares, according to the latest SEC report filing. PRCH stock had 37 new institutional investments in for a total of 14,118,788 shares, while 25 institutional investors sold positions of 3,552,300 shares during the same period.