Porch Group (NASDAQ:PRCH) Rating Lowered to “Strong Sell” at Zacks Research

Porch Group (NASDAQ:PRCH) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on PRCH. B. Riley reaffirmed a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Oppenheimer set a $20.00 price objective on Porch Group in a research note on Thursday, November 6th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Porch Group presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Porch Group Price Performance

Shares of PRCH opened at $7.89 on Monday. 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 cap of $975.84 million, a PE ratio of 27.21 and a beta of 3.07. The firm’s 50 day moving average price is $9.35 and its 200 day moving average price is $13.24. Porch Group has a twelve month low of $3.72 and a twelve month high of $19.44.

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

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $9.66, for a total value of $234,680.04. Following the sale, the chief financial officer owned 118,130 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. 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.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRCH. Aster Capital Management DIFC Ltd increased its stake 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 acquiring an additional 1,377 shares during the period. Larson Financial Group LLC raised its stake in shares of Porch Group by 444.8% in the third 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 in the last quarter. RiverPark Advisors LLC bought a new position in Porch Group in the third quarter worth $39,000. AlphaQuest LLC acquired a new stake in Porch Group during the second quarter worth $33,000. Finally, State of Alaska Department of Revenue bought a new stake in Porch Group in the 3rd quarter valued at $80,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.