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When Does Porch Group Inc. (PRCH) Become A Good Investment?

Porch Group Inc. (NASDAQ:PRCH) has seen 3.41 million shares traded in the last trading session. The company, currently valued at $241.55M, closed the last trade at $2.73 per share which meant it gained $0.23 on the day or 9.20% during that session. The PRCH stock price is -302.93% off its 52-week high price of $11.00 and 65.57% above the 52-week low of $0.94. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.46 million shares traded. The 3-month trading volume is 2.12 million shares.

The consensus among analysts is that Porch Group Inc. (PRCH) is a Buy stock at the moment, with a recommendation rating of 1.90. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 11 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.2.

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Porch Group Inc. (NASDAQ:PRCH) trade information

Sporting 9.20% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the PRCH stock price touched $2.73 or saw a rise of 5.86%. Year-to-date, Porch Group Inc. shares have moved 45.21%, while the 5-day performance has seen it change 13.75%. Over the past 30 days, the shares of Porch Group Inc. (NASDAQ:PRCH) have changed 45.21%. Short interest in the company has seen 10.93 million shares shorted with days to cover at 6.85.

Wall Street analysts have a consensus price target for the stock at $5.89, which means that the shares’ value could jump 53.65% from current levels. The projected low price target is $1.40 while the price target rests at a high of $14.00. In that case, then, we find that the current price level is -412.82% off the targeted high while a plunge would see the stock lose 48.72% from current levels.

Porch Group Inc. (PRCH) estimates and forecasts

Figures show that Porch Group Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained 10.53% over the past 6 months, with this year growth rate of -18.97%, compared to 7.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -300.00% and 16.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 50.60%.

10 analysts offering their estimates for the company have set an average revenue estimate of $81.74 million for the current quarter. 10 have an estimated revenue figure of $74.81 million for the next quarter concluding in Dec 2022.

PRCH Dividends

Porch Group Inc. is expected to release its next earnings report between February 27 and March 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Porch Group Inc. (NASDAQ:PRCH)’s Major holders

Insiders own 18.06% of the company shares, while shares held by institutions stand at 90.76% with a share float percentage of 110.76%. Investors are also buoyed by the number of investors in a company, with Porch Group Inc. having a total of 203 institutions that hold shares in the company. The top two institutional holders are Vulcan Value Partners, LLC with over 10.03 million shares worth more than $25.67 million. As of Jun 29, 2022, Vulcan Value Partners, LLC held 10.05% of shares outstanding.

The other major institutional holder is Granahan Investment Management LLC, with the holding of over 10.0 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $25.6 million and represent 10.02% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and Financial Investors Tr-Vulcan Value Partners Small Cap Fd. As of Jun 29, 2022, the former fund manager holds about 6.63% shares in the company for having 6.61 million shares of worth $16.92 million while later fund manager owns 3.37 million shares of worth $6.5 million as of Jul 30, 2022, which makes it owner of about 3.38% of company’s outstanding stock.

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