Porch Group (PRCH) Stock Forecast, Price & News

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Porch Group in the last twelve months. There are currently 2 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" PRCH shares.
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4 brokerages have issued 1 year price objectives for Porch Group's stock. Their PRCH share price forecasts range from $2.00 to $14.00. On average, they predict the company's share price to reach $5.79 in the next year. This suggests a possible upside of 345.5% from the stock's current price.
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Porch Group's stock was trading at $1.88 at the start of the year. Since then, PRCH stock has decreased by 30.9% and is now trading at $1.30.
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Porch Group saw a decrease in short interest in May. As of May 15th, there was short interest totaling 11,280,000 shares, a decrease of 14.4% from the April 30th total of 13,170,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is presently 7.2 days. Currently, 14.6% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
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Porch Group, Inc. (NASDAQ:PRCH) issued its quarterly earnings results on Tuesday, March, 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by $0.03. The firm earned $64.11 million during the quarter, compared to the consensus estimate of $66.75 million. Porch Group had a negative net margin of 62.83% and a negative trailing twelve-month return on equity of 113.13%.

Jacob Forward ETF holds 27,036 shares of PRCH stock, representing 1.39% of its portfolio.

Porch Group issued an update on its FY 2023 earnings guidance on Friday, May, 12th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $330.00 million-$350.00 million, compared to the consensus revenue estimate of $336.92 million.

Porch Group trades on the NASDAQ under the ticker symbol "PRCH."

Porch Group's stock is owned by a variety of retail and institutional investors. Top institutional investors include Granahan Investment Management LLC (12.98%), Villere ST Denis J & Co. LLC (5.89%), BlackRock Inc. (5.51%), FMR LLC (3.37%), Alpha Wave Global LP (2.93%) and Portolan Capital Management LLC (2.76%). Insiders that own company stock include Asha Sharma, Javier Saade, Matt Ehrlichman, Matthew Neagle, Park West Asset Management Llc, Rachel Lam and Sean Davis Kell.
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Shares of PRCH stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PRCH stock can currently be purchased for approximately $1.30.

Porch Group (NASDAQ:PRCH) has a market capitalization of $127.17 million and generates $275.95 million in revenue each year. The company earns $-156,560,000.00 in net income (profit) each year or ($1.92) on an earnings per share basis.

The company employs 1,800 workers across the globe.

Porch Group's mailing address is 6060 CENTER DRIVE 10TH FLOOR, LOS ANGELES CA, 90045. The official website for the company is porch.com. The company can be reached via phone at 855-767-2400 or via email at prch@gatewayir.com.