Analysts Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $16.31

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.3125.

Several research analysts have recently weighed in on PRCH shares. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research lowered shares of Porch Group from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th.

Insiders Place Their Bets

In other Porch Group 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 value of $234,680.04. Following the transaction, the chief financial officer directly owned 118,130 shares of the company’s stock, valued at approximately $1,141,135.80. This trade represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Several institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd increased its holdings 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 buying an additional 1,377 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Porch Group by 444.8% during 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. RiverPark Advisors LLC bought a new stake in shares of Porch Group during the 3rd quarter valued at $39,000. AlphaQuest LLC bought a new stake in shares of Porch Group during the 2nd quarter valued at $33,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Porch Group in the 4th quarter worth $38,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Price Performance

NASDAQ PRCH opened at $7.82 on Thursday. Porch Group has a one year low of $4.64 and a one year high of $19.44. The stock has a 50-day moving average of $8.30 and a 200 day moving average of $11.90. The company has a market capitalization of $973.28 million, a price-to-earnings ratio of -156.40 and a beta of 3.05. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $112.25 million for the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. On average, sell-side analysts forecast that Porch Group will post -0.63 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.