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

Brokerages expect Porch Group, Inc. (NASDAQ:PRCH – Get Rating) to post earnings per share of ($0.24) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Porch Group’s earnings, with estimates ranging from ($0.27) to ($0.22). Porch Group reported earnings of ($0.17) per share during the same quarter last year, which indicates a negative year over year growth rate of 41.2%. The company is scheduled to issue its next 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 year, analysts forecast that the business will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.56) to ($0.39). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Porch Group.

Porch Group (NASDAQ:PRCH – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. Porch Group had a negative net margin of 21.81% and a negative return on equity of 36.81%. During the same quarter last year, the firm earned ($0.35) EPS.

PRCH has been the topic of several recent research reports. Guggenheim lowered their price target on shares of Porch Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, March 2nd. Oppenheimer lowered their price target on shares of Porch Group from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. Keefe, Bruyette & Woods initiated coverage on shares of Porch Group in a report on Monday, February 14th. They issued an “outperform” rating and a $14.50 price target on the stock. Loop Capital upped their price target on shares of Porch Group from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. Finally, Stephens decreased their price objective on shares of Porch Group from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, March 10th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $20.23.

NASDAQ:PRCH opened at $4.64 on Friday. Porch Group has a one year low of $3.27 and a one year high of $27.50. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market cap of $455.35 million, a price-to-earnings ratio of -8.29 and a beta of 1.08. The firm’s fifty day moving average is $5.80 and its two-hundred day moving average is $11.83.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP raised its position in shares of Porch Group by 1.4% during the 4th quarter. Southpoint Capital Advisors LP now owns 7,000,000 shares of the company’s stock worth $109,130,000 after purchasing an additional 100,000 shares during the last quarter. Vulcan Value Partners LLC acquired a new position in shares of Porch Group during the 4th quarter worth about $94,574,000. Granahan Investment Management Inc. MA raised its position in shares of Porch Group by 10.6% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 5,354,138 shares of the company’s stock worth $94,661,000 after purchasing an additional 512,102 shares during the last quarter. BlackRock Inc. raised its position in shares of Porch Group by 2.4% during the 4th quarter. BlackRock Inc. now owns 5,116,975 shares of the company’s stock worth $79,775,000 after purchasing an additional 122,142 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Porch Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 3,983,072 shares of the company’s stock valued at $27,663,000 after acquiring an additional 144,971 shares during the last quarter. Hedge funds and other institutional investors 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.

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