Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $17.00

Porch Group, Inc. (NASDAQ:PRCH) has earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

Several brokerages recently commented on PRCH. Oppenheimer set a $20.00 target price on Porch Group in a research report on Thursday, November 6th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. B. Riley reissued a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Finally, Benchmark restated a “buy” rating on shares of Porch Group in a report on Friday.

Porch Group Trading Down 6.7%

PRCH opened at $8.48 on Wednesday. Porch Group has a twelve month low of $3.72 and a twelve month high of $19.44. The company has a fifty day moving average of $9.44 and a 200-day moving average of $13.29. The stock has a market cap of $1.05 billion, a PE ratio of 29.24 and a beta of 3.07. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 36.18.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $118.08 million during the quarter, compared to analyst estimates of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. On average, sell-side analysts predict that Porch Group will post -0.63 EPS for the current year.

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 24,294 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $9.66, for a total value of $234,680.04. Following the completion of the sale, the chief financial officer directly owned 118,130 shares of the company’s stock, valued at $1,141,135.80. The trade was a 17.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 57,216 shares of company stock valued at $553,129. Company insiders own 23.32% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Porch Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after purchasing an additional 1,090 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Porch Group by 1.5% in the third quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after buying an additional 1,200 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Porch Group by 9.4% during the second quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after buying an additional 1,220 shares during the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Porch Group by 956.3% during the third 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. Finally, Larson Financial Group LLC raised its holdings 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 during the last quarter. Institutional investors own 48.48% of the company’s stock.

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.