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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.2143.

Several analysts have recently weighed in on PRCH shares. 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 upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark lifted their price objective on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Porch Group in a research note on Friday. Finally, Stephens started coverage on shares of Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company.

Insider Buying and Selling at Porch Group

In other Porch Group news, COO Matthew Neagle sold 62,344 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total transaction of $609,724.32. Following the completion of the sale, the chief operating officer owned 1,990,705 shares in the company, valued at approximately $19,469,094.90. The trade was a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Shawn Tabak sold 10,881 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total transaction of $106,416.18. Following the sale, the chief financial officer owned 299,439 shares of the company’s stock, valued at $2,928,513.42. This trade represents a 3.51% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 2,471,066 shares of company stock worth $21,849,927. 27.78% of the stock is owned by corporate insiders.

Institutional Trading of Porch Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCH. Osbon Capital Management LLC bought a new stake in Porch Group during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd grew its stake in shares of Porch Group by 956.3% in 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 grew its stake in shares of Porch Group by 444.8% in 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. bought a new stake in shares of Porch Group in the 4th quarter worth $38,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Porch Group in the 3rd quarter worth $39,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Stock Performance

NASDAQ:PRCH opened at $9.56 on Tuesday. The company has a fifty day moving average of $8.41 and a 200-day moving average of $8.71. The firm has a market capitalization of $1.22 billion, a P/E ratio of -56.23 and a beta of 3.24. 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 twelve month low of $6.36 and a twelve month high of $19.44.

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, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $109.44 million during the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. As a group, sell-side analysts anticipate 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.