Porch Group Inc. (PRCH) Is A Stock You Should Watch

As of Friday close, Porch Group Inc.’s (NASDAQ:PRCH) stock was up $0.84, moving up 22.11 percent to $4.64. The average number of shares traded per day over the past five days has been 3,659,400 shares. 4 times new highs have been achieved over the past 5 days, with a $0.90 gain in that time frame. In the last twenty days, the average volume was 2,593,245, while in the previous 50 days, it was 2,206,600.

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Since last month, PRCH stock retreated -17.44%. Shares of the company fell to $3.27 on 05/10/22, the lowest level in the past month. A 52-week high of $27.50 was reached on 01/03/22 after having rallying from a 52-week low of $3.27. Since the beginning of this year, PRCH’s stock price has dropped by -70.24% or -$10.95, and marked a new high 1 time. However, the stock has declined by -83.13% since its 52-week high.

Porch Group Inc. (PRCH) last reported insider trading activity 151 days ago on Dec 14. Neagle Matthew, the Chief Operating Officer of the company, disposed of 3,000 shares for $16.43 on Dec 14. It resulted in a $49,290 divestment by the insider. Neagle Matthew sold 1,000 shares at an average price of $19.49 on Dec 08. The insider now owns 465,884 shares following the transaction. On Dec 07, Chief Operating Officer Neagle Matthew sold 4,500 shares at $18.73 apiece. The transaction was valued at $84,285.

Financial Health

In the three months ended September 29, Porch Group Inc.’s quick ratio stood at 1.70, while its current ratio was 1.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 1.91, and the total debt-to-equity ratio was 1.91. On the profitability front, the trailing twelve-month gross margin is 69.50% percent. In the year ended September 29, operating margins totaled -40.80%. Based on annual data, PRCH earned $133.71 million in gross profit and brought in $192.43 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -10.80%. Return on equity (ROE) for the past 12 months was -53.30%.

In Porch Group Inc.’s quarter-end financial report for September 29, it reported total debt of $415.0 million against cash and short-term investments of $8.46 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PRCH’s revenue rose 57.26% to $51.58 million during the quarter, while net income inched up to $62.56 million. While analysts expected Porch Group Inc. to report -$0.14 quarterly earnings, the actual figure was -$0.05 per share, beating the consensus estimate by 64.30%. During the quarter, the company generated -$17.67 million in EBITDA. The liabilities of Porch Group Inc. were 821.88 million at the end of its most recent quarter ended September 29, and its total debt was $418.08 million. The value of shareholders’ equity is $99.14 million.

Technical Picture

This quick technical analysis looks at Porch Group Inc.’s (PRCH) price momentum. With a historical volatility rate of 129.43%, the RSI 9-day stood at 59.83% on 13 May.

With respect to its five-day moving average, the current Porch Group Inc. price is up by +24.06% percent or $0.90. At present, PRCH shares trade -12.78% below its 20-day simple moving average and -71.09% percent below its 100-day simple moving average. However, the stock is currently trading approximately -25.16% below its SMA50 and -75.09% below its SMA200.

Stochastic coefficient K was 54.54% and Stochastic coefficient D was 29.79%, while ATR was 0.54. Given the Stochastic reading of 93.84% for the 14-day period, the RSI (14) reading has been calculated as 49.82%. As of today, the MACD Oscillator reading stands at 0.19, while the 14-day reading stands at 0.16.

Analyst Ratings

Oppenheimer reiterated its an Outperform rating on Porch Group Inc. (NASDAQ: PRCH) in a note to investors. The analysts firm has however raised their price target to $25, representing a possible 84.53% increase in the stock price.


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