Equities Analysts Set Expectations for Porch Group, Inc.’s Q2 2022 Earnings (NASDAQ:PRCH)

Porch Group, Inc. (NASDAQ:PRCHGet Rating) – Stock analysts at Wedbush lowered their Q2 2022 earnings per share estimates for Porch Group in a research note issued to investors on Wednesday, May 11th. Wedbush analyst Y. Arounian now expects that the company will earn ($0.22) per share for the quarter, down from their prior forecast of ($0.19). Wedbush also issued estimates for Porch Group’s Q3 2022 earnings at ($0.18) EPS, Q4 2022 earnings at ($0.25) EPS, FY2022 earnings at ($0.71) EPS and FY2023 earnings at ($0.56) EPS.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised Porch Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 2nd. Northland Securities reduced their price target on Porch Group from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Keefe, Bruyette & Woods initiated coverage on Porch Group in a report on Monday, February 14th. They issued an “outperform” rating and a $14.50 price target for the company. Oppenheimer reduced their price target on Porch Group from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Finally, Craig Hallum reduced their price target on Porch Group from $13.00 to $8.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Porch Group currently has a consensus rating of “Buy” and a consensus target price of $20.21.

NASDAQ:PRCH opened at $3.80 on Friday. The stock’s 50 day moving average price is $5.87 and its 200 day moving average price is $12.12. 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 52-week low of $3.27 and a 52-week high of $27.50.

Porch Group (NASDAQ:PRCHGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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.

A number of hedge funds have recently modified their holdings of PRCH. Wells Fargo & Company MN raised its holdings 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 during the last quarter. Morgan Stanley raised its holdings in Porch Group by 107.1% during the second quarter. Morgan Stanley now owns 211,630 shares of the company’s stock worth $4,093,000 after purchasing an additional 109,437 shares during the last quarter. SG Americas Securities LLC purchased a new position in Porch Group during the third quarter worth $136,000. Deutsche Bank AG increased its position in Porch Group by 207.9% during the third quarter. Deutsche Bank AG now owns 47,359 shares of the company’s stock worth $837,000 after buying an additional 31,978 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in Porch Group during the third quarter worth $47,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for Porch Group (NASDAQ:PRCH)

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