Porch Group, Inc. (NASDAQ:PRCH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.00.

PRCH has been the topic of a number of research reports. Oppenheimer set a $20.00 price objective on Porch Group in a research report on Thursday, November 6th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Tuesday, November 25th. B. Riley reiterated a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the transaction, the chief financial officer owned 118,130 shares in the company, valued at approximately $1,141,135.80. This represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 57,216 shares of company stock valued at $553,129 over the last ninety days. Company insiders own 23.32% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd boosted its position in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Porch Group during the 2nd quarter worth $33,000. RiverPark Advisors LLC purchased a new position in shares of Porch Group in the 3rd quarter worth about $39,000. Finally, State of Alaska Department of Revenue bought a new position in Porch Group during the third quarter valued at about $80,000. 48.48% of the stock is owned by institutional investors.

Porch Group Stock Performance

Shares of Porch Group stock opened at $9.19 on Wednesday. The company has a 50 day moving average of $9.66 and a 200-day moving average of $13.36. The company has a market cap of $1.14 billion, a PE ratio of 31.69 and a beta of 3.07. Porch Group has a 1-year low of $3.72 and a 1-year high of $19.44. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. The business had revenue of $118.08 million during the quarter, compared to the consensus estimate of $114.42 million. As a group, equities research analysts forecast that Porch Group will post -0.63 earnings per share for the current fiscal year.

Porch Group Company Profile

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.