Porch Group, Inc. (NASDAQ:PRCH) Expected to Announce Earnings of -$0.24 Per Share

Analysts forecast that Porch Group, Inc. (NASDAQ:PRCH – Get Rating) will report ($0.24) earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Porch Group’s earnings, with the highest EPS estimate coming in at ($0.22) and the lowest estimate coming in at ($0.27). Porch Group reported earnings per share of ($0.17) during the same quarter last year, which suggests a negative year-over-year growth rate of 41.2%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Porch Group will report full year earnings of ($0.67) per share for the current financial year, with EPS estimates ranging from ($0.83) to ($0.56). For the next financial year, analysts forecast that the firm will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.56) to ($0.39). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Porch Group.

Porch Group (NASDAQ:PRCH – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. Porch Group had a negative return on equity of 36.71% and a negative net margin of 21.81%. During the same quarter last year, the firm earned ($0.35) earnings per share.

Several brokerages have issued reports on PRCH. Northland Securities cut their price objective on Porch Group from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. Keefe, Bruyette & Woods assumed coverage on shares of Porch Group in a research note on Monday, February 14th. They set an “outperform” rating and a $14.50 price objective for the company. Zacks Investment Research upgraded Porch Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 2nd. Stephens decreased their price target on Porch Group from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, March 10th. Finally, Wedbush cut their price objective on Porch Group from $13.00 to $8.00 in a research report on Wednesday, May 11th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.23.

PRCH traded down $0.16 on Friday, reaching $4.66. The company’s stock had a trading volume of 22,101 shares, compared to its average volume of 2,593,286. Porch Group has a 1 year low of $3.27 and a 1 year high of $27.50. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.93. The business’s 50 day moving average is $5.70 and its 200 day moving average is $11.66.

In other Porch Group news, CEO Matt Ehrlichman purchased 273,128 shares of the stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $3.66 per share, with a total value of $999,648.48. Following the completion of the acquisition, the chief executive officer now directly owns 9,591,070 shares in the company, valued at approximately $35,103,316.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sean Davis Kell acquired 10,820 shares of Porch Group stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average price of $4.62 per share, with a total value of $49,988.40. Following the transaction, the director now owns 10,820 shares of the company’s stock, valued at approximately $49,988.40. The disclosure for this purchase can be found here. Insiders purchased a total of 288,948 shares of company stock valued at $1,068,137 in the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in Porch Group by 9.4% during the second quarter. Wells Fargo & Company MN now owns 10,362 shares of the company’s stock worth $200,000 after purchasing an additional 888 shares in the last quarter. Morgan Stanley increased its stake in shares of Porch Group by 107.1% during the 2nd quarter. Morgan Stanley now owns 211,630 shares of the company’s stock worth $4,093,000 after purchasing an additional 109,437 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Porch Group in the 3rd quarter worth approximately $136,000. Deutsche Bank AG grew its stake in shares of Porch Group by 207.9% during the 3rd quarter. Deutsche Bank AG now owns 47,359 shares of the company’s stock valued at $837,000 after buying an additional 31,978 shares during the period. Finally, Moors & Cabot Inc. acquired a new position in shares of Porch Group during the 3rd quarter valued at $47,000. 98.11% of the stock is owned by institutional investors and hedge funds.

About Porch Group (Get Rating)

Porch Group, Inc operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services companies and gives early access to homebuyers and homeowners. It offers services to home services companies, such as home inspectors, consumers, such as homebuyers and homeowners, service providers, such as moving, insurance, warranty, and security companies, and TV/Internet providers.

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