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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.2143.

Several brokerages have weighed in on PRCH. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th.

Porch Group Stock Performance

Shares of PRCH opened at $6.76 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The firm has a market cap of $841.35 million, a PE ratio of -135.20 and a beta of 3.05. Porch Group has a 12 month low of $4.64 and a 12 month high of $19.44. The stock has a fifty day moving average price of $7.76 and a 200-day moving average price of $10.84.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The firm had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. Equities research analysts predict that Porch Group will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Porch Group

A number of large investors have recently made changes to their positions in the stock. Granahan Investment Management LLC increased its position in shares of Porch Group by 20.3% in the 4th quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock valued at $105,821,000 after acquiring an additional 1,953,736 shares during the period. Vanguard Group Inc. lifted its position in Porch Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after acquiring an additional 62,073 shares during the period. Park West Asset Management LLC lifted its position in Porch Group by 131.3% during the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after acquiring an additional 2,867,084 shares during the period. Invesco Ltd. grew its stake in Porch Group by 448.4% during the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after purchasing an additional 3,103,018 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Porch Group by 55.2% during the 2nd quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock valued at $39,396,000 after purchasing an additional 1,188,273 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.