Porch Group (NASDAQ:PRCH – Get Rating) released its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14, MarketWatch Earnings reports. Porch Group had a negative return on equity of 40.77% and a negative net margin of 56.68%. During the same period in the previous year, the company posted ($0.35) EPS. Porch Group updated its FY 2022 guidance to EPS.
PRCH traded up $0.44 on Wednesday, hitting $3.79. 117,061 shares of the company were exchanged, compared to its average volume of 2,088,626. The firm has a fifty day simple moving average of $5.92 and a two-hundred day simple moving average of $12.18. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.67 and a current ratio of 1.67. Porch Group has a 12 month low of $3.27 and a 12 month high of $27.50. The stock has a market capitalization of $371.93 million, a PE ratio of -2.76 and a beta of 1.08.
PRCH has been the topic of several recent analyst reports. Craig Hallum lowered their price target on Porch Group from $13.00 to $8.00 in a report on Wednesday. Oppenheimer reduced their price objective on Porch Group from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Keefe, Bruyette & Woods assumed coverage on Porch Group in a research report on Monday, February 14th. They set an “outperform” rating and a $14.50 price objective on the stock. Northland Securities reduced their price objective on Porch Group from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Finally, Guggenheim reduced their price objective on Porch Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.21.
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.
- Get a free copy of the StockNews.com research report on Porch Group (PRCH)
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