Porch Group Inc (NASDAQ:PRCH) price on Wednesday, December 04, fall -8.02% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.16.
A look at the stock’s price movement, the close in the last trading session was $5.61, moving within a range at $5.05 and $5.68. The beta value (5-Year monthly) was 1.967. Turning to its 52-week performance, $5.70 and $1.05 were the 52-week high and 52-week low respectively. Overall, PRCH moved 154.19% over the past month.
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Porch Group Inc’s market cap currently stands at around $522.36 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 109.57M for the company’s revenue for the quarter, with a low and high estimate of 106.94M and 111.3M respectively. The average forecast suggests down to a -4.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 447.08M, representing a 3.90% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PRCH is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
PRCH’s current price about 49.24% and 119.79% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 73.08, while 7-day volatility ratio is 12.94% and 14.25% in the 30-day chart. Further, Porch Group Inc (PRCH) has a beta value of 2.10, and an average true range (ATR) of 0.48. Analysts have given the company’s stock an average 52-week price target of $4, forecast between a low of $4 and high of $4. Looking at the price targets, the low is 22.48% off current price level while to achieve the yearly target high, price needs to move 22.48%. Nonetheless, investors will most likely welcome a 22.48% jump to $4 which is the analysts’ median price.
If we refocus on Porch Group Inc (NASDAQ:PRCH), historical trading data shows that trading volumes averaged 3.59 over the past 10 days and 2.11 million over the past 3 months. The company’s latest data on shares outstanding shows there are 118.90 million shares.
The 41.34% of Porch Group Inc’s shares are in the hands of company insiders while institutional holders own 51.51% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.29 million on 2024-11-15, giving us a short ratio of 2.65. The data shows that as of 2024-11-15 short interest in Porch Group Inc (PRCH) stood at 1192.0 of shares outstanding, with shares short falling to 9.71 million registered in 2024-10-15. Current price change has pushed the stock 67.53% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PRCH stock continues to rise going into the next quarter.
