Porch Group (NASDAQ:PRCH) Posts Earnings Results, Misses Expectations By $0.02 EPS

Porch Group (NASDAQ:PRCH) issued its quarterly earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02), Zacks reports. The firm had revenue of $118.08 million for the quarter, compared to analyst estimates of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 33.63%. Porch Group updated its FY 2025 guidance to EPS.

Porch Group Price Performance

PRCH traded up $0.09 during trading on Friday, reaching $10.72. The company had a trading volume of 4,088,012 shares, compared to its average volume of 2,392,666. The company has a market cap of $1.31 billion, a P/E ratio of 36.97 and a beta of 2.84. Porch Group has a 12 month low of $2.74 and a 12 month high of $19.44. The business’s fifty day moving average price is $16.60 and its 200 day moving average price is $13.25.

Insider Transactions at Porch Group

In other Porch Group news, COO Matthew Neagle sold 55,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total transaction of $1,027,950.00. Following the completion of the transaction, the chief operating officer owned 999,784 shares in the company, valued at approximately $18,685,962.96. This represents a 5.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.20, for a total value of $728,000.00. Following the completion of the sale, the director owned 165,903 shares in the company, valued at approximately $3,019,434.60. This trade represents a 19.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 145,000 shares of company stock valued at $2,639,450 over the last quarter. Corporate insiders own 23.32% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after acquiring an additional 130,166 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Porch Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after purchasing an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Porch Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after purchasing an additional 26,119 shares during the last quarter. Creative Planning acquired a new stake in shares of Porch Group in the 2nd quarter valued at approximately $136,000. Finally, Legal & General Group Plc increased its holdings in Porch Group by 1,203.8% during the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after buying an additional 100,417 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research note on Thursday, October 30th. B. Riley restated a “buy” rating on shares of Porch Group in a research report on Thursday. Oppenheimer set a $20.00 price objective on Porch Group in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Porch Group in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Porch Group in a report on Tuesday, September 2nd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Porch Group presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.