Porch Group Inc. [NASDAQ: PRCH] traded at a low on 03/16/23, posting a -0.73 loss after which it closed the day’ session at $1.36. The company report on March 14, 2023 that Porch Group Reports Fourth Quarter 2022 Results.
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– Reports $64.1 Million of Revenue, Growth of 24% Year-Over-Year.
– Insurance Segment continues strong growth, with atypical fourth-quarter weather impacting Adjusted EBITDA.
The results of the trading session contributed to over 2831610 shares changing hands. Over the past one week, the price volatility of Porch Group Inc. stands at 13.80% while the volatility over the past one month is 10.67%.
The market cap for PRCH stock reached $148.44 million, with 100.55 million shares outstanding and 82.21 million shares in the current float. Compared to the average trading volume of 1.63M shares, PRCH reached a trading volume of 2831610 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $6.15 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 1.90. 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.
Loop Capital have made an estimate for Porch Group Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 15, 2023. The new note on the price target was released on November 09, 2022, representing the official price target for Porch Group Inc. stock. Previously, the target price had yet another drop from $10 to $8, while Cantor Fitzgerald kept a Overweight rating on PRCH stock. On July 25, 2022, analysts decreased their price target for PRCH shares from 5.25 to 3.25.
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 0.57. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 2.45.
How has PRCH stock performed recently?
Porch Group Inc. [PRCH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.80. With this latest performance, PRCH shares dropped by -61.14% in over the last four-week period, additionally sinking by -46.25% over the last 6 months – not to mention a drop of -79.52% 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 24.69, with the RSI for the last a single of trading hit 16.52, and the three-weeks RSI is set at 31.51 for Porch Group Inc. [PRCH]. The present Moving Average for the last 50 days of trading for this stock 2.6136, while it was recorded at 1.6060 for the last single week of trading, and 2.3366 for the last 200 days.
Porch Group Inc. [PRCH]: Deeper insight into the 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.
Insider trade positions for Porch Group Inc. [PRCH]
There are presently around $95 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 13,378,979, which is approximately 2.98% of the company’s market cap and around 11.60% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 9,125,077 shares of the stock with an approximate value of $12.41 million in PRCH stocks shares; and PORTOLAN CAPITAL MANAGEMENT, LLC, currently with $8.62 million in PRCH stock with ownership of nearly 769.3% of the company’s market capitalization.
Positions in Porch Group Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 55 institutional holders increased their position in Porch Group Inc. [NASDAQ:PRCH] by around 16,786,043 shares. Additionally, 77 investors decreased positions by around 24,406,904 shares, while 18 investors held positions by with 28,585,119 shares. The mentioned changes placed institutional holdings at 69,778,066 shares, according to the latest SEC report filing. PRCH stock had 22 new institutional investments in for a total of 2,841,295 shares, while 37 institutional investors sold positions of 11,049,057 shares during the same period.