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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.00.

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Porch Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. The Goldman Sachs Group assumed coverage on Porch Group in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 price target for the company. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Porch Group in a report on Tuesday, September 2nd. Finally, Benchmark reiterated a “buy” rating on shares of Porch Group in a report on Tuesday, November 25th.

Porch Group Trading Down 0.7%

NASDAQ:PRCH opened at $8.94 on Friday. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33. Porch Group has a one year low of $3.72 and a one year high of $19.44. The company has a market cap of $1.11 billion, a PE ratio of 30.83 and a beta of 3.11. The firm has a 50-day moving average of $11.78 and a 200-day moving average of $13.51.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $118.08 million during the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. As a group, equities research analysts expect that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were 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 represents a 17.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 57,216 shares of company stock valued at $553,129. Corporate insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Several institutional investors have recently modified their holdings of PRCH. The Manufacturers Life Insurance Company increased its position in shares of Porch Group by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock valued at $350,000 after acquiring an additional 1,090 shares during the last quarter. Alliancebernstein L.P. grew its stake in Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after purchasing an additional 1,200 shares during the period. Prudential Financial Inc. increased its position in shares of Porch Group by 9.4% during the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after purchasing an additional 1,220 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after purchasing an additional 1,499 shares during the period. 48.48% of the stock is owned by institutional investors.

Porch Group Company Profile

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.