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

Porch Group, Inc. (NASDAQ:PRCH) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of equities research analysts recently commented on the company. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Oppenheimer set a $20.00 price objective on Porch Group in a research note on Thursday, November 6th. B. Riley restated a “buy” rating on shares of Porch Group in a report on Thursday, November 6th. Benchmark restated a “buy” rating on shares of Porch Group in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th.

Porch Group Trading Down 5.1%

Shares of NASDAQ:PRCH opened at $9.19 on Wednesday. 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 stock’s 50-day moving average is $9.66 and its 200-day moving average is $13.36. The company has a market cap of $1.14 billion, a P/E ratio of 31.69 and a beta of 3.07. Porch Group has a 52-week low of $3.72 and a 52-week high of $19.44.

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

Insider Activity

In related news, CFO Shawn Tabak sold 24,294 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction 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 $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 57,216 shares of company stock worth $553,129 over the last quarter. Corporate insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 956.3% during the third 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 last quarter. Larson Financial Group LLC lifted 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 buying an additional 1,499 shares during the last quarter. RiverPark Advisors LLC bought a new stake in shares of Porch Group during the third quarter worth approximately $39,000. AlphaQuest LLC acquired a new position in Porch Group in the 2nd quarter valued at $33,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Porch Group in the third quarter valued at about $80,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.