Porch Group Inc (NASDAQ:PRCH) price on Thursday, March 20, rose 2.07% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $6.40.
A look at the stock’s price movement, the close in the last trading session was $6.27, moving within a range at $6.112 and $6.57. The beta value (5-Year monthly) was 2.028. Turning to its 52-week performance, $7.30 and $1.05 were the 52-week high and 52-week low respectively. Overall, PRCH moved 24.03% over the past month.
Porch Group Inc’s market cap currently stands at around $651.21 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-24.
Analysts have a consensus estimate of 79.44M for the company’s revenue for the quarter, with a low and high estimate of 74.87M and 84.77M respectively. The average forecast suggests down to a -31.19% 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 399.07M, representing a -8.86% decline 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 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
PRCH’s current price about 6.34% and 23.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.67, while 7-day volatility ratio is 8.98% and 12.39% in the 30-day chart. Further, Porch Group Inc (PRCH) has a beta value of 2.23, and an average true range (ATR) of 0.63. 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 37.5% off current price level while to achieve the yearly target high, price needs to move 37.5%. Nonetheless, investors will most likely welcome a 37.5% 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 1.93 over the past 10 days and 2.18 million over the past 3 months. The company’s latest data on shares outstanding shows there are 119.80 million shares.
The 40.72% of Porch Group Inc’s shares are in the hands of company insiders while institutional holders own 57.42% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.42 million on 2025-02-28, giving us a short ratio of 3.6. The data shows that as of 2025-02-28 short interest in Porch Group Inc (PRCH) stood at 1488.0 of shares outstanding, with shares short falling to 10.88 million registered in 2025-01-31. Current price change has pushed the stock 30.08% 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.
