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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.00.

A number of equities analysts recently weighed in on PRCH shares. B. Riley Financial restated a “buy” rating on shares of Porch Group in a report on Thursday, November 6th. Benchmark reissued a “buy” rating on shares of Porch Group in a report on Friday, January 16th. Oppenheimer set a $20.00 price target on Porch Group in a research note on Thursday, November 6th. Zacks Research downgraded Porch Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th.

Porch Group Stock Performance

Shares of PRCH stock opened at $7.25 on Friday. The company has a market capitalization of $896.68 million, a price-to-earnings ratio of 25.00 and a beta of 3.08. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. Porch Group has a one year low of $3.72 and a one year high of $19.44. The company’s 50-day moving average is $8.85 and its 200 day moving average is $12.76.

Porch Group (NASDAQ:PRCH) last issued its 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 negative return on equity of 51.86% and a net margin of 6.91%.The firm had revenue of $118.08 million during the quarter, compared to the consensus estimate of $114.42 million. Sell-side analysts expect that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Activity

In other news, CFO Shawn Tabak sold 24,294 shares of Porch Group stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $9.66, for a total value of $234,680.04. Following the completion of the sale, the chief financial officer directly owned 118,130 shares in the company, valued at $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 57,216 shares of company stock worth $553,129. Company insiders own 23.32% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd raised its holdings in Porch Group by 956.3% in the 3rd 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 period. Larson Financial Group LLC increased its position in Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after buying an additional 1,499 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Porch Group in the second quarter worth about $33,000. RiverPark Advisors LLC bought a new stake in Porch Group during the 3rd quarter worth approximately $39,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Porch Group in the third quarter worth $80,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.