Porch Group (PRCH) to Release Quarterly Earnings on Wednesday

Porch Group (NASDAQ:PRCH) will issue its quarterly earnings data 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Thursday, March 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 net margin of 31.12% and a negative return on equity of 1,182.09%. During the same quarter in the prior year, the company posted ($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 Trading Down 7.3 %

Shares of Porch Group stock opened at $3.19 on Wednesday. The business’s fifty day simple moving average is $3.60 and its 200 day simple moving average is $2.54. Porch Group has a 12 month low of $0.50 and a 12 month high of $4.78.

Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 19,040 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $4.04, for a total transaction of $76,921.60. Following the sale, the chief financial officer now directly owns 292,311 shares in the company, valued at approximately $1,180,936.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 20.95% of the company’s stock.

Analyst Ratings Changes

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

Porch Group Company Profile

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.