Porch Group, Inc. (NASDAQ:PRCH) Expected to Announce Earnings of -$0.16 Per Share

Wall Street analysts expect Porch Group, Inc. (NASDAQ:PRCH) to report earnings per share (EPS) of ($0.16) for the current quarter, Zacks reports. Two analysts have issued estimates for Porch Group’s earnings. The lowest EPS estimate is ($0.18) and the highest is ($0.14). The business is scheduled to issue its next earnings results on Monday, November 15th.

According to Zacks, analysts expect that Porch Group will report full-year earnings of ($1.14) per share for the current fiscal year, with EPS estimates ranging from ($1.16) to ($1.11). For the next financial year, analysts forecast that the company will post earnings of ($0.50) per share, with EPS estimates ranging from ($0.77) to ($0.34). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Porch Group.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Monday, August 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.06.

Several analysts have recently issued reports on PRCH shares. Oppenheimer began coverage on shares of Porch Group in a research report on Monday, June 28th. They issued an “outperform” rating and a $28.00 target price on the stock. Benchmark boosted their price target on shares of Porch Group from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Finally, Zacks Investment Research lowered shares of Porch Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $25.14.

Shares of NASDAQ PRCH traded down $0.30 during trading on Wednesday, hitting $18.84. The company had a trading volume of 26,923 shares, compared to its average volume of 1,735,599. The stock has a fifty day simple moving average of $18.82 and a two-hundred day simple moving average of $17.67. Porch Group has a fifty-two week low of $10.03 and a fifty-two week high of $24.41. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -10.07 and a beta of 0.12. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.19.

In other Porch Group news, COO Matthew Neagle sold 14,000 shares of the business’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $23.02, for a total value of $322,280.00. Following the transaction, the chief operating officer now directly owns 335,450 shares in the company, valued at approximately $7,722,059. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 26,300 shares of company stock worth $560,082 over the last quarter. 19.20% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Clarius Group LLC raised its stake in shares of Porch Group by 0.6% in the 2nd quarter. Clarius Group LLC now owns 118,167 shares of the company’s stock valued at $2,285,000 after acquiring an additional 755 shares during the period. Wells Fargo & Company MN raised its stake in shares of Porch Group by 9.4% in the 2nd quarter. Wells Fargo & Company MN now owns 10,362 shares of the company’s stock valued at $200,000 after acquiring an additional 888 shares during the period. Millrace Asset Group Inc. raised its stake in shares of Porch Group by 0.7% in the 2nd quarter. Millrace Asset Group Inc. now owns 138,842 shares of the company’s stock valued at $2,685,000 after acquiring an additional 935 shares during the period. The PNC Financial Services Group Inc. purchased a new stake in shares of Porch Group in the 1st quarter valued at approximately $27,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Porch Group in the 2nd quarter valued at approximately $38,000. Institutional investors own 67.04% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services.

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Earnings History and Estimates for Porch Group (NASDAQ:PRCH)

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