Porch Group, Inc. (NASDAQ:PRCH) Receives $17.21 Consensus Target Price from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.2143.

Several research firms recently commented on PRCH. Benchmark raised their target price on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Stephens began coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th.

Insider Activity

In other news, CEO Matt Ehrlichman sold 145,882 shares of Porch Group stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total value of $997,832.88. Following the transaction, the chief executive officer owned 17,163,175 shares of the company’s stock, valued at $117,396,117. The trade was a 0.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 2,505,010 shares of company stock worth $22,195,198. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd grew its position in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. Larson Financial Group LLC grew its position in Porch Group by 444.8% during the third 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. RiverPark Advisors LLC purchased a new position in Porch Group during the third quarter valued at approximately $39,000. Osbon Capital Management LLC purchased a new position in Porch Group during the fourth quarter valued at approximately $25,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Porch Group during the fourth quarter valued at approximately $38,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Stock Up 7.5%

PRCH stock opened at $12.25 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The firm’s 50-day simple moving average is $9.41 and its 200 day simple moving average is $8.72. The stock has a market cap of $1.56 billion, a PE ratio of -72.05 and a beta of 3.22.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share 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 business had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. As a group, sell-side analysts predict that Porch Group will post -0.04 EPS 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.