Porch Group Inc. [PRCH] Revenue clocked in at $247.70 million, down -82.30% YTD: What’s Next?

Porch Group Inc. [NASDAQ: PRCH] price surged by 3.76 percent to reach at $0.1. The company report on August 9, 2022 that Porch Group Reports Second Quarter 2022 Results.

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– Reports $70.8 Million of Revenue, up 38% Year-Over-Year.

– Executes Mutual Termination of CSE Insurance Acquisition, Increasing Expected End-of-Year Unrestricted Cash Position by Approximately $50 Million.

A sum of 2294653 shares traded at recent session while its average daily volume was at 2.48M shares. Porch Group Inc. shares reached a high of $2.76 and dropped to a low of $2.50 until finishing in the latest session at $2.76.

The one-year PRCH stock forecast points to a potential upside of 68.2. The average equity rating for PRCH stock is currently 1.70, trading closer to a bullish pattern in the stock market.

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 $8.68 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.

Cantor Fitzgerald have made an estimate for Porch Group Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 10, 2022. While these analysts kept the previous recommendation, Keefe Bruyette dropped their target price from $5.25 to $3.25. The new note on the price target was released on July 25, 2022, representing the official price target for Porch Group Inc. stock. Previously, the target price had yet another raise to $11.50, while Compass Point analysts kept a Buy rating on PRCH stock.

The Average True Range (ATR) for Porch Group Inc. is set at 0.32, with the Price to Sales ratio for PRCH stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 2.63.

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 -18.82. With this latest performance, PRCH shares gained by 1.85% in over the last four-week period, additionally sinking by -69.74% over the last 6 months – not to mention a drop of -83.84% 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 52.97, with the RSI for the last a single of trading hit 53.74, and the three-weeks RSI is set at 50.70 for Porch Group Inc. [PRCH]. The present Moving Average for the last 50 days of trading for this stock 2.59, while it was recorded at 2.92 for the last single week of trading, and 8.79 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 1.30 and a Current Ratio set at 1.30.

Porch Group Inc. [PRCH] Insider Position Details

There are presently around $248 million, or 96.60% of PRCH stock, in the hands of institutional investors. The top three institutional holders of PRCH stocks are: VULCAN VALUE PARTNERS, LLC with ownership of 10,027,757, which is approximately -22.094% of the company’s market cap and around 10.70% of the total institutional ownership; GRANAHAN INVESTMENT MANAGEMENT, LLC, holding 9,998,058 shares of the stock with an approximate value of $27.59 million in PRCH stocks shares; and PARK WEST ASSET MANAGEMENT LLC, currently with $25.81 million in PRCH stock with ownership of nearly -4.097% of the company’s market capitalization.

Positions in Porch Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 91 institutional holders increased their position in Porch Group Inc. [NASDAQ:PRCH] by around 20,080,600 shares. Additionally, 67 investors decreased positions by around 22,891,280 shares, while 17 investors held positions by with 46,711,829 shares. The mentioned changes placed institutional holdings at 89,683,709 shares, according to the latest SEC report filing. PRCH stock had 32 new institutional investments in for a total of 4,946,412 shares, while 34 institutional investors sold positions of 11,263,467 shares during the same period.


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