Porch Group (NASDAQ:PRCH) Shares Down 5.5% – Should You Sell?

Porch Group, Inc. (NASDAQ:PRCH)’s share price fell 5.5% on Tuesday . The company traded as low as $7.55 and last traded at $7.4120. 527,594 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,651,731 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PRCH shares. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark restated a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and an average price target of $16.31.

Porch Group Trading Down 5.7%

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. The stock has a market capitalization of $920.51 million, a P/E ratio of -149.14 and a beta of 3.05. The company has a fifty day simple moving average of $8.11 and a two-hundred day simple moving average of $11.52.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data 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. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The business had revenue of $112.25 million during the quarter, compared to analyst estimates of $109.13 million. On average, sell-side analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in Porch Group by 448.4% during the 3rd 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. Park West Asset Management LLC boosted its position in shares of Porch Group by 131.3% during the fourth quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after buying an additional 2,867,084 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of Porch Group during the second quarter worth about $28,810,000. Granahan Investment Management LLC grew its holdings in shares of Porch Group by 20.3% during the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after buying an additional 1,953,736 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Porch Group by 55.2% during the second quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock worth $39,396,000 after buying an additional 1,188,273 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

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.