In the last trading session, 1.0 million Porch Group Inc (NASDAQ:PRCH) shares changed hands as the company’s beta touched 2.13. With the company’s per share price at $3.78 changed hands at -$0.2 or -5.03% during last session, the market valuation stood at $373.73M. PRCH’s last price was a discount, traded about -13.76% off its 52-week high of $4.30. The share price had its 52-week low at $0.50, which suggests the last value was 86.77% up since then. When we look at Porch Group Inc’s average trading volume, we note the 10-day average is 1.82 million shares, with the 3-month average coming to 1.73 million.
Porch Group Inc (NASDAQ:PRCH) trade information
Instantly PRCH was in red as seen at the end of in last trading. With action 8.93%, the performance over the past five days has been green. The drop to weekly highs of 4.02 subtracted -5.03% to the stock’s daily price. The company’s shares are showing year-to-date upside of 22.73%, with the 5-day performance at 8.93% in the green. However, in the 30-day time frame, Porch Group Inc (NASDAQ:PRCH) is 35.00% up. Looking at the short shares, we see there were 8.52 million shares sold at short interest cover period of 7.48 days.
Porch Group Inc (PRCH) estimates and forecasts
Data shows that the Porch Group Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 386.05% over the past 6 months, a 40.29% in annual growth rate that is considerably higher than the industry average of 19.20%. 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 12.20%, while the growth in revenue is estimated to hit 39.60% for the next quarter. Year-over-year growth is forecast to reach 5.80% 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 $103.25 million. 9 analysts are of the opinion that Porch Group Inc’s revenue for the quarter ending Jun 2024 will be $115.74 million. The company’s revenue for the corresponding quarters a year ago was $87.37 million and $98.77 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 18.20%. The estimates for the next quarter sales put growth at 17.20%.
The 2024 estimates are for Porch Group Inc earnings to increase by 32.77%.
PRCH Dividends
Porch Group Inc is expected to release its next quarterly earnings report between May 08 and May 13.
Porch Group Inc (NASDAQ:PRCH)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 23.50% of Porch Group Inc shares while 54.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.08%. There are 54.38% institutions holding the Porch Group Inc stock share, with Granahan Investment Management LLC the top institutional holder. As of Dec 30, 2023, the company held 12.18% of the shares, roughly 11.89 million PRCH shares worth $44.95 million.
Fidelity National Financial, Inc. holds the second largest percentage of outstanding shares, with 4.33% or 4.23 million shares worth $15.99 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and JNL Series Trust-JNL/Multi Manager Small Cap GrowthFd. With 2.46 million shares estimated at $9.3 million under it, the former controlled 2.52% of total outstanding shares. On the other hand, JNL Series Trust-JNL/Multi Manager Small Cap GrowthFd held about 2.25% of the shares, roughly 2.2 million shares worth around $8.32 million.
