Porch Group (PRCH) Set to Announce Earnings on Wednesday

Porch Group (NASDAQ:PRCH) is scheduled to be issuing 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.13. The company had revenue of $114.61 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm 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 Price Performance

NASDAQ PRCH opened at $3.44 on Monday. The firm has a 50-day moving average price of $3.64 and a two-hundred day moving average price of $2.61. Porch Group has a 12-month low of $0.50 and a 12-month high of $4.78.

Insider Buying and Selling at Porch Group

In related news, CFO Shawn Tabak sold 19,040 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $4.04, for a total value of $76,921.60. Following the completion of the transaction, the chief financial officer now directly owns 292,311 shares of the company’s stock, valued at $1,180,936.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 23.46% of the company’s stock.

Wall Street Analyst Weigh In

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

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.