Porch Group (NASDAQ:PRCH) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Porch Group (NASDAQ:PRCHGet Rating) in a research note issued on Monday, The Fly reports. The brokerage set an “overweight” rating on the stock.

PRCH has been the subject of several other research reports. Craig Hallum decreased their price objective on shares of Porch Group from $13.00 to $8.00 in a research note on Wednesday, May 11th. Guggenheim reduced their target price on shares of Porch Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Keefe, Bruyette & Woods initiated coverage on shares of Porch Group in a research report on Monday, February 14th. They set an “outperform” rating and a $14.50 target price for the company. Loop Capital increased their target price on shares of Porch Group from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 2nd. Finally, Stephens reduced their target price on shares of Porch Group from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, March 10th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $20.23.

Shares of NASDAQ PRCH opened at $4.45 on Monday. The firm’s 50-day moving average price is $5.57 and its 200-day moving average price is $11.28. Porch Group has a 1-year low of $3.27 and a 1-year high of $27.50. The firm has a market capitalization of $436.70 million, a P/E ratio of -7.95 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.93.

Porch Group (NASDAQ:PRCHGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.14. Porch Group had a negative net margin of 21.81% and a negative return on equity of 36.71%. During the same period last year, the firm posted ($0.35) EPS. Equities research analysts forecast that Porch Group will post -0.8 EPS for the current year.

In related news, Director Sean Davis Kell acquired 10,820 shares of the stock in a transaction dated Monday, May 16th. The shares were purchased at an average price of $4.62 per share, for a total transaction of $49,988.40. Following the transaction, the director now owns 10,820 shares in the company, valued at approximately $49,988.40. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matt Ehrlichman acquired 273,128 shares of the stock in a transaction dated Thursday, May 12th. The shares were bought at an average price of $3.66 per share, for a total transaction of $999,648.48. Following the transaction, the chief executive officer now owns 9,591,070 shares in the company, valued at approximately $35,103,316.20. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 288,948 shares of company stock valued at $1,068,137. Insiders own 19.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Porch Group during the 4th quarter valued at $224,000. Rafferty Asset Management LLC raised its position in Porch Group by 32.1% in the 4th quarter. Rafferty Asset Management LLC now owns 56,880 shares of the company’s stock worth $887,000 after purchasing an additional 13,811 shares during the period. UBS Asset Management Americas Inc. raised its position in Porch Group by 13.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 67,618 shares of the company’s stock worth $1,195,000 after purchasing an additional 8,094 shares during the period. California State Teachers Retirement System raised its position in Porch Group by 395.2% in the 3rd quarter. California State Teachers Retirement System now owns 108,581 shares of the company’s stock worth $1,920,000 after purchasing an additional 86,654 shares during the period. Finally, Millennium Management LLC raised its position in Porch Group by 186.0% in the 3rd quarter. Millennium Management LLC now owns 607,389 shares of the company’s stock worth $10,739,000 after purchasing an additional 395,019 shares during the period. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Porch Group Company Profile (Get Rating)

Porch Group, Inc operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services companies and gives early access to homebuyers and homeowners. It offers services to home services companies, such as home inspectors, consumers, such as homebuyers and homeowners, service providers, such as moving, insurance, warranty, and security companies, and TV/Internet providers.

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