Porch Group Inc (NASDAQ:PRCH) price closed higher on Tuesday, November 12, and jumping 5.97% above its previous close.
A look at the daily price movement shows that the last close reads $3.18, with intraday deals fluctuated between $3.02 and $3.47. The company’s 5Y monthly beta was ticking 1.967. Taking into account the 52-week price action we note that the stock hit a 52-week high of $4.78 and 52-week low of $1.00. The stock added 127.70% on its value in the past month.
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Porch Group Inc, which has a market valuation of $341.15 million, is expected to release its quarterly earnings report in December.
On average, analysts have forecast the company’s revenue for the quarter will hit 107.02M, with the likely lows of 86.56M and highs of 113.63M. The average estimate suggests sales growth for the quarter will likely fall by -6.60% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 450.38M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 4.70% above that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give PRCH a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as 50% Buy.
The overview shows that PRCH’s price is at present 62.88% off the SMA20 and 101.07% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 71.60, with weekly volatility standing at 19.18%. The indicator jumps to 15.02% when calculated based on the past 30 days. Porch Group Inc (NASDAQ:PRCH)’s beta value is holding at 2.06, while the average true range (ATR) indicator is currently reading 0.35. Considering analysts have assigned the stock a price target range of $2-$4 as the low and high respectively, we find the trailing 12-month average consensus price target to be $3. Based on this estimate, we see that current price is roughly 40.65% off the estimated low and -18.69% off the forecast high. Investors will no doubt be excited to see the share price rise to $3, which is the median consensus price, and at that level PRCH would be 10.98% from current price.
An analysis of the Porch Group Inc (NASDAQ:PRCH) stock in terms of its daily trading volume indicates that the 3-month average is 1.57 million. However, this figure increases on the past 10-day timeline to an average of 3.78 million.
Current records show that the company has 97.06M in outstanding shares. The insiders’ percentage holdings are 34.97% of outstanding shares while the percentage share held by institutions stands at 56.58%. The stats also highlight that short interest as of 2024-10-15, stood at 9.71 million shares, which puts the short ratio at the time at 14.09. From this we can glean that short interest is 1412.00 of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 9.85 million. But the 9.42% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
