Porch Group, Inc. (NASDAQ:PRCH) Receives $16.31 Average PT from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.3125.

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

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $7.59 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. Porch Group has a 12 month low of $4.64 and a 12 month high of $19.44. The stock has a 50 day moving average of $8.22 and a 200-day moving average of $11.73. The company has a market capitalization of $944.67 million, a P/E ratio of -151.80 and a beta of 3.05.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping 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 business had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. As a group, equities research analysts predict that Porch Group will post -0.63 EPS for the current year.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of the business’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 transaction of $234,680.04. Following the completion of the sale, the chief financial officer owned 118,130 shares in the company, valued at $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Porch Group

Large investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its holdings in 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 purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC grew its holdings in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after buying an additional 1,499 shares in the last quarter. RiverPark Advisors LLC bought a new position in Porch Group during the 3rd quarter worth $39,000. AlphaQuest LLC bought a new position in Porch Group during the 2nd quarter worth $33,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group during the fourth quarter worth $38,000. Institutional investors 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.