The trading price of Porch Group Inc (NASDAQ:PRCH) closed lower on Tuesday, May 27, and closing at $9.93, -1.97% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $12.20 and a 52-week low of $1.05. Over the past month, the stock has gained 68.02% in value.
Porch Group Inc, whose market valuation is $1.03 billion at the time of this writing, is expected to release its quarterly earnings report in June. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.05 per share this quarter, however they have predicted annual earnings per share of 0.01 for current year and 0.46 for next year.
Analysts have forecast the company to bring in revenue of 98.31M for the current quarter, with the likely lows of 94.6M and highs of 106M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 414.22M.
On the technical side, indicators suggest PRCH has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that PRCH’s price is currently 9.26% off the SMA20 and 36.00% off the SMA50. The RSI metric on the 14-day chart is currently showing 60.21, and weekly volatility stands at 4.47%. When measured over the past 30 days, the indicator reaches 12.41%. Porch Group Inc (NASDAQ:PRCH)’s beta value is currently sitting at 2.61, while the Average True Range indicator is currently displaying 0.96. With analysts defining $4-$4 as the low and high price targets, we arrive at a consensus price target of $4 for the trailing 12-month period. The current price is about 59.72% off the estimated low and 59.72% off the forecast high, based on this estimate. Investors will be thrilled if PRCH’s share price rises to $4, which is the median consensus price. At that level, PRCH’s share price would be 59.72% above current price.
To see how Porch Group Inc stock has been performing in comparison to its peers in the industry, here are the numbers: PRCH stock’s performance was -1.97% in the latest trading, and 312.03% in the past year.
An evaluation of the daily trading volume of Porch Group Inc (NASDAQ:PRCH) indicates that the 3-month average is 3.48 million.
Currently, records show that 120.14 million of the company’s shares remain outstanding. The insiders hold 40.75% of outstanding shares, whereas institutions hold 64.11%. However, since the stock’s price has seen 101.83% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
