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

Porch Group, Inc. (NASDAQ:PRCH) has been given an average rating of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.2143.

A number of equities analysts recently commented on the stock. Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Finally, Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th.

Hedge Funds Weigh In On Porch Group

Large investors have recently added to or reduced their stakes in the company. Osbon Capital Management LLC bought a new stake in shares of Porch Group in the 4th quarter valued at about $25,000. 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 acquiring an additional 1,377 shares in the last quarter. 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 acquiring an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Porch Group during the fourth quarter valued at approximately $38,000. Finally, RiverPark Advisors LLC purchased a new stake in Porch Group during the third quarter valued at approximately $39,000. 48.48% of the stock is currently owned by institutional investors.

Porch Group Stock Performance

NASDAQ PRCH opened at $6.76 on Monday. Porch Group has a one year low of $4.64 and a one year 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 company has a market capitalization of $841.35 million, a price-to-earnings ratio of -135.20 and a beta of 3.05. The company’s 50-day simple moving average is $7.76 and its two-hundred day simple moving average is $10.84.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. The firm had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Equities analysts forecast that Porch Group will post -0.63 EPS for the current fiscal 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.