Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.00.

A number of research firms recently commented on PRCH. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research report on Monday. B. Riley restated a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Oppenheimer set a $20.00 target price on Porch Group in a research report on Thursday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Porch Group in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group started coverage on Porch Group in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 target price for the company.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $8.93 on Friday. The stock’s 50-day simple moving average is $11.15 and its 200-day simple moving average is $13.48. The firm has a market capitalization of $1.10 billion, a PE ratio of 30.79 and a beta of 3.11. Porch Group has a fifty-two week low of $3.72 and a fifty-two week high of $19.44. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. The business had revenue of $118.08 million during the quarter, compared to analyst estimates of $114.42 million. As a group, equities research analysts forecast that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling at Porch Group

In related news, CFO Shawn Tabak sold 24,294 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $9.66, for a total transaction of $234,680.04. Following the transaction, the chief financial officer owned 118,130 shares of the company’s stock, valued at $1,141,135.80. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 57,216 shares of company stock valued at $553,129 over the last three months. 23.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Porch Group by 5.6% during the third quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after buying an additional 384,451 shares during the period. Invesco Ltd. boosted its position in Porch Group by 448.4% during the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after purchasing an additional 3,103,018 shares in the last quarter. Marshall Wace LLP grew its holdings in Porch Group by 55.2% in the second quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock valued at $39,396,000 after purchasing an additional 1,188,273 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Porch Group by 84.6% in the first quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock valued at $23,389,000 after buying an additional 1,470,580 shares in the last quarter. Finally, Divisadero Street Capital Management LP raised its stake in shares of Porch Group by 6.7% during the 3rd quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock worth $43,743,000 after buying an additional 163,271 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.