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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.3125.

A number of brokerages have weighed in on PRCH. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Zacks Research cut shares of Porch Group from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. B. Riley Financial restated a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Finally, Benchmark reissued a “buy” rating on shares of Porch Group in a report on Friday, January 16th.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of the stock in a transaction on 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 transaction, the chief financial officer owned 118,130 shares in the company, valued at approximately $1,141,135.80. This represents a 17.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCH. AQR Capital Management LLC grew its stake in shares of Porch Group by 134.7% in the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after purchasing an additional 130,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after acquiring an additional 2,002 shares during the period. Goldman Sachs Group Inc. raised its stake in Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after acquiring an additional 26,119 shares in the last quarter. AlphaQuest LLC acquired a new position in Porch Group during the second quarter worth $33,000. Finally, Bank of Montreal Can lifted its holdings in shares of Porch Group by 26.3% during the second quarter. Bank of Montreal Can now owns 522,082 shares of the company’s stock valued at $6,155,000 after acquiring an additional 108,857 shares during the period. Institutional investors own 48.48% of the company’s stock.

Porch Group Trading Up 0.5%

Porch Group stock opened at $8.21 on Thursday. Porch Group has a 52 week low of $4.64 and a 52 week high of $19.44. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $1.02 billion, a PE ratio of -164.20 and a beta of 3.05. The business’s 50-day simple moving average is $8.34 and its 200-day simple moving average is $12.01.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The firm had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. Equities research analysts forecast 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.