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

Porch Group, Inc. (NASDAQ:PRCH) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.2143.

A number of equities analysts have commented on PRCH shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Stephens started coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective on the stock. Benchmark boosted their price objective on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th.

Insiders Place Their Bets

In related news, CEO Matt Ehrlichman sold 145,882 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total value of $997,832.88. Following the completion of the transaction, the chief executive officer owned 17,163,175 shares in the company, valued at $117,396,117. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 2,505,010 shares of company stock valued at $22,195,198. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock worth $15,508,000 after purchasing an additional 450,560 shares during the last quarter. Vanguard Group Inc. raised its position in Porch Group by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after purchasing an additional 384,451 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Porch Group by 68.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock worth $3,545,000 after purchasing an additional 158,368 shares during the last quarter. Tudor Investment Corp ET AL raised its position in Porch Group by 1,897.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after purchasing an additional 242,722 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in Porch Group by 360.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company’s stock worth $5,886,000 after purchasing an additional 504,803 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.

Porch Group Stock Up 5.8%

PRCH opened at $10.28 on Friday. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -60.47 and a beta of 3.22. The firm’s 50-day simple moving average is $9.17 and its 200-day simple moving average is $8.69. Porch Group has a twelve month low of $6.36 and a twelve month high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. Equities research analysts anticipate that Porch Group will post -0.04 EPS 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.