Porch Group, Inc. (NASDAQ:PRCH) Receives $17.00 Consensus Target Price from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.3125.

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

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of Porch Group stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the sale, the chief financial officer directly owned 118,130 shares in the company, valued at approximately $1,141,135.80. The trade was a 17.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 57,216 shares of company stock worth $553,129. 23.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after buying an additional 3,103,018 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Porch Group during the second quarter valued at $28,810,000. Marshall Wace LLP boosted its stake in shares of Porch Group by 55.2% in the 2nd quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock valued at $39,396,000 after purchasing an additional 1,188,273 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Porch Group by 264.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,084,265 shares of the company’s stock worth $9,899,000 after purchasing an additional 786,583 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Porch Group during the 3rd quarter worth about $12,747,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Stock Down 2.1%

PRCH opened at $8.36 on Friday. The business has a 50 day moving average of $8.69 and a 200-day moving average of $12.57. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -167.20 and a beta of 3.08. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18. Porch Group has a 1-year low of $3.72 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, beating 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. As a group, sell-side analysts anticipate that Porch Group will post -0.63 earnings per share for the current year.

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.