Cantor Fitzgerald Equities Analysts Boost Earnings Estimates for Porch Group, Inc. (NASDAQ:PRCH)

Porch Group, Inc. (NASDAQ:PRCH – Get Rating) – Stock analysts at Cantor Fitzgerald lifted their FY2022 earnings estimates for shares of Porch Group in a research note issued to investors on Wednesday, May 11th. Cantor Fitzgerald analyst B. Sherlund now anticipates that the company will post earnings of ($0.64) per share for the year, up from their previous estimate of ($0.69).

Porch Group (NASDAQ:PRCH – Get Rating) last announced its 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 36.81% and a negative net margin of 21.81%. During the same quarter in the prior year, the firm posted ($0.35) EPS.

Other research analysts also recently issued reports about the company. Oppenheimer cut their target price on Porch Group from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. Craig Hallum dropped their price objective on Porch Group from $13.00 to $8.00 in a research note on Wednesday. Loop Capital boosted their price objective on Porch Group from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, March 2nd. Keefe, Bruyette & Woods started coverage on Porch Group in a research report on Monday, February 14th. They issued an “outperform” rating and a $14.50 target price for the company. Finally, Northland Securities decreased their target price on Porch Group from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.21.

Shares of PRCH opened at $3.80 on Friday. Porch Group has a 12 month low of $3.27 and a 12 month high of $27.50. The stock’s 50-day moving average price is $5.87 and its two-hundred day moving average price is $12.12. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.91.

A number of institutional investors have recently bought and sold shares of the stock. Vulcan Value Partners LLC purchased a new stake in shares of Porch Group during the fourth quarter worth $94,574,000. BlackRock Inc. lifted its position in shares of Porch Group by 146.8% during the third quarter. BlackRock Inc. now owns 4,994,833 shares of the company’s stock worth $88,311,000 after acquiring an additional 2,970,655 shares in the last quarter. Park West Asset Management LLC lifted its position in shares of Porch Group by 70.9% during the third quarter. Park West Asset Management LLC now owns 3,503,946 shares of the company’s stock worth $61,950,000 after acquiring an additional 1,453,946 shares in the last quarter. Southpoint Capital Advisors LP grew its position in Porch Group by 25.5% during the third quarter. Southpoint Capital Advisors LP now owns 6,900,000 shares of the company’s stock worth $121,992,000 after buying an additional 1,400,000 shares in the last quarter. Finally, Washington Harbour Partners LP increased its stake in Porch Group by 53.5% in the 3rd quarter. Washington Harbour Partners LP now owns 3,751,491 shares of the company’s stock worth $66,326,000 after acquiring an additional 1,307,466 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Porch Group Company Profile (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.

Featured Articles