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

Porch Group, Inc. (NASDAQ:PRCH) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.00.

PRCH has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Porch Group in a report on Tuesday, September 2nd. Zacks Research downgraded shares of Porch Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Thursday, October 30th. Finally, Oppenheimer set a $20.00 target price on shares of Porch Group in a research report on Thursday, November 6th.

Porch Group Stock Up 3.7%

Porch Group stock opened at $9.45 on Tuesday. Porch Group has a fifty-two week low of $3.40 and a fifty-two week high of $19.44. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. The firm’s 50-day simple moving average is $14.65 and its 200 day simple moving average is $13.63. The stock has a market cap of $1.17 billion, a PE ratio of 32.59 and a beta of 2.84.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, November 5th. The company reported ($0.10) 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 for the quarter, compared to the consensus estimate of $114.42 million. Porch Group has set its FY 2025 guidance at EPS. Research analysts predict that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling at Porch Group

In other news, COO Matthew Neagle sold 55,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total transaction of $1,027,950.00. Following the completion of the transaction, the chief operating officer owned 999,784 shares in the company, valued at approximately $18,685,962.96. This represents a 5.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Regi Vengalil sold 40,000 shares of Porch Group stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.20, for a total value of $728,000.00. Following the completion of the sale, the director directly owned 165,903 shares of the company’s stock, valued at approximately $3,019,434.60. This trade represents a 19.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 145,000 shares of company stock valued at $2,639,450. Company insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harvest Investment Services LLC raised its position in shares of Porch Group by 429.2% in the third quarter. Harvest Investment Services LLC now owns 293,530 shares of the company’s stock valued at $4,925,000 after purchasing an additional 238,066 shares during the period. Castleark Management LLC bought a new position in Porch Group in the 3rd quarter worth approximately $6,389,000. Caxton Associates LLP purchased a new position in Porch Group in the 3rd quarter valued at approximately $2,378,000. Voleon Capital Management LP bought a new stake in Porch Group during the 3rd quarter valued at $518,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Porch Group by 133.5% during the third quarter. Qube Research & Technologies Ltd now owns 367,365 shares of the company’s stock worth $6,164,000 after acquiring an additional 210,032 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.