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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $17.00.

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

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of the company’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 owned 118,130 shares of the company’s stock, valued at $1,141,135.80. This represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 57,216 shares of company stock worth $553,129 in the last 90 days. Insiders own 23.32% of the company’s stock.

Institutional Trading of Porch Group

Several large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Porch Group by 68.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock valued at $3,545,000 after purchasing an additional 158,368 shares during the period. Moody National Bank Trust Division grew its holdings in Porch Group by 8.0% during the 4th quarter. Moody National Bank Trust Division now owns 593,830 shares of the company’s stock valued at $5,422,000 after purchasing an additional 43,932 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Porch Group by 95.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock worth $15,508,000 after buying an additional 450,560 shares during the period. Tudor Investment Corp ET AL increased its stake in Porch Group by 1,897.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after buying an additional 242,722 shares during the period. Finally, Harvest Investment Services LLC lifted its holdings in Porch Group by 429.2% in the 3rd quarter. Harvest Investment Services LLC now owns 293,530 shares of the company’s stock worth $4,925,000 after buying an additional 238,066 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Stock Performance

Shares of PRCH stock opened at $7.89 on Wednesday. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $975.84 million, a price-to-earnings ratio of 27.21 and a beta of 3.07. Porch Group has a one year low of $3.72 and a one year high of $19.44. The company has a 50 day moving average price of $9.35 and a 200 day moving average price of $13.24.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data 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 company had revenue of $118.08 million for the quarter, compared to analysts’ expectations of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. Sell-side analysts anticipate that Porch Group will post -0.63 EPS for the current 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.