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

Porch Group Inc. [NASDAQ: PRCH] stock went on a downward path that fall over -0.56% on Thursday, amounting to a one-week price decrease of less than -20.63%. The company report on November 14, 2022 that Porch Group’s Inspection Support Network Launches App to Enable Homeowners to Easily Manage Their Home Using Their Inspection Report.

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Porch App provides homeowners with a simple way to manage their home, while helping inspectors differentiate their business and extend the value of the home inspection report.

Porch Group, Inc., (NASDAQ: PRCH) (“Porch Group”), a leading vertical software company reinventing the home services and insurance industries, today announced the launch of the Porch app through its premier home inspection software company, Inspection Support Network (ISN). The app allows inspectors to extend the value of their inspection by offering an interactive way for their clients to manage the information in their inspection reports. Additionally, home inspectors using ISN can use the app to provide more value to their clients, stay top-of-mind after the inspection is complete, and generate additional revenue by promoting ancillary services, including re-inspections, and referrals.

Over the last 12 months, PRCH stock dropped by -90.81%. The one-year Porch Group Inc. stock forecast points to a potential upside of 70.45. The average equity rating for PRCH stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $174.04 million, with 100.55 million shares outstanding and 82.21 million shares in the current float. Compared to the average trading volume of 2.01M shares, PRCH stock reached a trading volume of 2276063 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 $5.99 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 1.80. 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.

JP Morgan have made an estimate for Porch Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 09, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price from $10 to $8. The new note on the price target was released on August 10, 2022, representing the official price target for Porch Group Inc. stock. Previously, the target price had yet another drop from $5.25 to $3.25, while Keefe Bruyette kept a Mkt Perform rating on PRCH stock.

The Average True Range (ATR) for Porch Group Inc. is set at 0.25, with the Price to Sales ratio for PRCH stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 2.72.

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 -20.63. With this latest performance, PRCH shares gained by 22.92% in over the last four-week period, additionally sinking by -49.28% over the last 6 months – not to mention a drop of -90.81% 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 48.50, with the RSI for the last a single of trading hit 45.34, and the three-weeks RSI is set at 48.91 for Porch Group Inc. [PRCH]. The present Moving Average for the last 50 days of trading for this stock 1.7586, while it was recorded at 2.0040 for the last single week of trading, and 3.4173 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 $137 million, or 77.80% of PRCH stock, in the hands of institutional investors. The top three institutional holders of PRCH stocks are: GRANAHAN INVESTMENT MANAGEMENT, LLC with ownership of 12,991,796, which is approximately 29.943% of the company’s market cap and around 11.30% of the total institutional ownership; PARK WEST ASSET MANAGEMENT LLC, holding 9,638,164 shares of the stock with an approximate value of $17.06 million in PRCH stocks shares; and VILLERE ST DENIS J & CO /ADV, currently with $10.94 million in PRCH stock with ownership of nearly 2.103% of the company’s market capitalization.

Positions in Porch Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 63 institutional holders increased their position in Porch Group Inc. [NASDAQ:PRCH] by around 9,597,360 shares. Additionally, 71 investors decreased positions by around 21,553,521 shares, while 25 investors held positions by with 46,351,575 shares. The mentioned changes placed institutional holdings at 77,502,456 shares, according to the latest SEC report filing. PRCH stock had 19 new institutional investments in for a total of 2,483,917 shares, while 30 institutional investors sold positions of 15,268,255 shares during the same period.


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