Porch Group (PRCH) Scheduled to Post Quarterly Earnings on Wednesday

Porch Group (NASDAQ:PRCH) will be announcing its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.33) per share for the quarter. Porch Group has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. The company had revenue of $114.61 million during the quarter, compared to the consensus estimate of $99.60 million. Porch Group had a negative return on equity of 1,182.09% and a negative net margin of 31.12%. During the same period last year, the company earned ($0.32) earnings per share. On average, analysts expect Porch Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Porch Group Stock Up 0.3 %

Shares of PRCH opened at $3.45 on Tuesday. The company has a market cap of $336.72 million, a PE ratio of -2.45 and a beta of 2.22. The business has a fifty day moving average of $3.64 and a 200 day moving average of $2.61. Porch Group has a 52-week low of $0.50 and a 52-week high of $4.78.

Insider Activity

In other news, CFO Shawn Tabak sold 25,678 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $4.00, for a total transaction of $102,712.00. Following the transaction, the chief financial officer now owns 311,351 shares in the company, valued at $1,245,404. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Porch Group from $3.50 to $3.75 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Cantor Fitzgerald lifted their target price on Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Stephens reiterated an “overweight” rating and set a $6.00 target price on shares of Porch Group in a research report on Thursday, April 11th.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.