Porch Group’s (PRCH) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH)‘s stock had its “market perform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued on Monday,Benzinga reports. They presently have a $16.25 price target on the stock, up from their prior price target of $13.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 9.43% from the company’s current price.

A number of other research analysts also recently issued reports on PRCH. Stephens began coverage on shares of Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Finally, Benchmark increased their price target on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Porch Group has a consensus rating of “Moderate Buy” and a consensus target price of $18.54.

Porch Group Stock Performance

PRCH stock opened at $14.85 on Monday. The stock’s 50 day simple moving average is $11.58 and its 200 day simple moving average is $9.27. Porch Group has a 12-month low of $6.36 and a 12-month high of $19.44. The firm has a market cap of $1.90 billion, a P/E ratio of -87.35 and a beta of 3.13. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The firm had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. As a group, equities research analysts predict that Porch Group will post -0.04 EPS for the current year.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $16.13, for a total value of $403,250.00. Following the completion of the transaction, the chief financial officer owned 240,495 shares in the company, valued at approximately $3,879,184.35. This represents a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matt Ehrlichman sold 120,368 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total transaction of $1,177,199.04. Following the completion of the sale, the chief executive officer owned 15,972,080 shares in the company, valued at $156,206,942.40. The trade was a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,213,386 shares of company stock valued at $20,332,837 in the last quarter. Company insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Several hedge funds and other institutional investors have recently made changes to their positions in PRCH. Larson Financial Group LLC boosted its stake in Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares in the last quarter. Osbon Capital Management LLC bought a new stake in shares of Porch Group in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Porch Group by 97.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock valued at $27,000 after buying an additional 1,481 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at $38,000. Finally, State of Wyoming bought a new position in Porch Group during the second quarter valued at about $111,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.