Porch Group, Inc. (NASDAQ:PRCH) Receives $18.79 Average PT from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.7857.

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Stephens began coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price target for the company. Keefe, Bruyette & Woods raised their price target on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Finally, B. Riley Financial boosted their price target on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd.

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total value of $405,250.00. Following the completion of the sale, the chief financial officer owned 215,495 shares of the company’s stock, valued at approximately $3,493,173.95. This represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 53,944 shares of company stock valued at $851,371. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Osbon Capital Management LLC bought a new position in shares of Porch Group in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Porch Group by 97.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock valued at $27,000 after purchasing an additional 1,481 shares during the period. 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 valued at $31,000 after purchasing an additional 1,499 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Porch Group in the 4th quarter valued at about $38,000. Finally, State of Wyoming acquired a new stake in Porch Group in the 2nd quarter valued at about $64,000. 48.48% of the stock is owned by institutional investors.

Porch Group Trading Down 0.2%

NASDAQ:PRCH opened at $17.40 on Thursday. Porch Group has a twelve month low of $6.36 and a twelve month high of $19.44. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The business has a 50 day moving average price of $14.89 and a two-hundred day moving average price of $10.88. The company has a market cap of $2.29 billion, a P/E ratio of -145.00 and a beta of 3.15.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. The company had revenue of $131.81 million for the quarter, compared to the consensus estimate of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. As a group, analysts expect that Porch Group will post -0.09 EPS for the current fiscal year.

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.