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Porch Group Inc’s (NASDAQ: PRCH)’s Stock Performance and Outlook

In the last trading session, 1.2 million Porch Group Inc (NASDAQ:PRCH) shares changed hands as the company’s beta touched 2.02. With the company’s per share price at $2.38 changed hands at -$0.02 or -0.83% during last session, the market valuation stood at $235.31M. PRCH’s last price was a discount, traded about -63.87% off its 52-week high of $3.90. The share price had its 52-week low at $0.50, which suggests the last value was 78.99% up since then. When we look at Porch Group Inc’s average trading volume, we note the 10-day average is 0.81 million shares, with the 3-month average coming to 0.70.

Porch Group Inc (NASDAQ:PRCH) trade information

Instantly PRCH was in red as seen at the end of in last trading. With action 2.15%, the performance over the past five days has been green. The drop to weekly highs of 2.51 subtracted -0.83% to the stock’s daily price. The company’s shares are showing year-to-date downside of -22.73%, with the 5-day performance at 2.15% in the green. However, in the 30-day time frame, Porch Group Inc (NASDAQ:PRCH) is -19.32% down. Looking at the short shares, we see there were 9.57 million shares sold at short interest cover period of 6.24 days.

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Porch Group Inc (PRCH) estimates and forecasts

Data shows that the Porch Group Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 108.77% over the past 6 months, a 9.94% in annual growth rate that is considerably lower than the industry average of 20.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Porch Group Inc will rise 44.40%, while the growth in revenue is estimated to hit 31.70% for the next quarter. Year-over-year growth is forecast to reach 50.40% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $99.33 million. 8 analysts are of the opinion that Porch Group Inc’s revenue for the quarter ending Mar 2024 will be $90.75 million. The company’s revenue for the corresponding quarters a year ago was $64.11 million and $87.37 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 54.90%. The estimates for the next quarter sales put growth at 3.90%.

The 2024 estimates are for Porch Group Inc earnings to increase by 2.06%.

PRCH Dividends

Porch Group Inc is expected to release its next quarterly earnings report between March 12 and March 18.

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

If we look at who the major shareholders are, we find that insiders hold 23.00% of Porch Group Inc shares while 48.71% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.26%. There are 48.71% institutions holding the Porch Group Inc stock share, with Granahan Investment Management LLC the top institutional holder. As of Jun 29, 2023, the company held 12.65% of the shares, roughly 12.46 million PRCH shares worth $17.19 million.

Park West Asset Management LLC holds the second largest percentage of outstanding shares, with 7.98% or 7.86 million shares worth $10.85 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and JNL Series Trust-JNL/Multi Manager Small Cap GrowthFd. With 2.67 million shares estimated at $3.69 million under it, the former controlled 2.72% of total outstanding shares. On the other hand, JNL Series Trust-JNL/Multi Manager Small Cap GrowthFd held about 2.70% of the shares, roughly 2.65 million shares worth around $3.66 million.

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