Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $16.3125.

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. B. Riley Financial reiterated a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Oppenheimer set a $20.00 price objective on shares of Porch Group in a research report on Thursday, November 6th. Zacks Research lowered shares of Porch Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th.

Insider Buying and Selling

In other news, CFO Shawn Tabak sold 24,294 shares of Porch Group stock in a transaction on Monday, December 15th. The stock was 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 of the company’s stock, valued at approximately $1,141,135.80. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.32% of the company’s stock.

Institutional Trading of Porch Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Porch Group by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after acquiring an additional 48,811 shares during the period. Bank of Montreal Can increased its holdings in Porch Group by 26.3% in the second quarter. Bank of Montreal Can now owns 522,082 shares of the company’s stock valued at $6,155,000 after purchasing an additional 108,857 shares during the last quarter. G2 Investment Partners Management LLC boosted its holdings in Porch Group by 28.4% during the second quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company’s stock worth $14,492,000 after buying an additional 271,561 shares during the last quarter. Calamos Advisors LLC acquired a new position in shares of Porch Group during the 2nd quarter worth about $982,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Porch Group by 285.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 429,004 shares of the company’s stock valued at $5,058,000 after acquiring an additional 317,580 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Price Performance

Shares of Porch Group stock opened at $8.21 on Thursday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -164.20 and a beta of 3.05. The firm’s 50-day moving average price is $8.34 and its two-hundred day moving average price is $12.01. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. Porch Group has a 1-year low of $4.64 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. On average, equities analysts predict that Porch Group will post -0.63 earnings per share for the current fiscal year.

About Porch Group

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.