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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.00.

PRCH has been the subject of a number of research analyst reports. Zacks Research downgraded Porch Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Oppenheimer set a $20.00 target price on shares of Porch Group in a research report on Thursday, November 6th. Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Finally, B. Riley Financial restated a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was 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 owned 118,130 shares of the company’s stock, valued at $1,141,135.80. This represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 57,216 shares of company stock worth $553,129 in the last quarter. Company insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Porch Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after purchasing an additional 62,073 shares in the last quarter. Invesco Ltd. increased its position in shares of Porch Group by 448.4% during the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after buying an additional 3,103,018 shares during the period. Marshall Wace LLP raised its stake in Porch Group by 55.2% in the second quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock worth $39,396,000 after buying an additional 1,188,273 shares in the last quarter. Divisadero Street Capital Management LP lifted its holdings in Porch Group by 6.7% in the third quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock worth $43,743,000 after buying an additional 163,271 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in Porch Group by 41.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company’s stock worth $28,999,000 after buying an additional 719,412 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Stock Performance

NASDAQ PRCH opened at $7.25 on Friday. The firm has a market cap of $896.68 million, a P/E ratio of 25.00 and a beta of 3.08. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 36.18. The company’s 50 day moving average is $8.85 and its 200-day moving average is $12.76. Porch Group has a 12-month low of $3.72 and a 12-month high of $19.44.

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