Porch Group, Inc. (NASDAQ:PRCH) Receives Average Recommendation of “Moderate Buy” from Analysts
by Doug Wharley · The Cerbat GemPorch Group, Inc. (NASDAQ:PRCH – Get Free Report) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $17.2143.
Several equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th.
Check Out Our Latest Research Report on Porch Group
Porch Group Price Performance
Shares of NASDAQ:PRCH opened at $7.51 on Monday. Porch Group has a 52 week low of $4.64 and a 52 week high of $19.44. The company has a market capitalization of $934.69 million, a PE ratio of -150.20 and a beta of 3.09. The company’s fifty day moving average is $7.67 and its 200-day moving average is $10.47. 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 – Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm 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%. Equities research analysts predict that Porch Group will post -0.63 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, COO Matthew Neagle sold 8,446 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $6.98, for a total value of $58,953.08. Following the completion of the transaction, the chief operating officer owned 2,626,286 shares of the company’s stock, valued at $18,331,476.28. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matt Ehrlichman sold 6,988 shares of Porch Group stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $6.98, for a total value of $48,776.24. Following the transaction, the chief executive officer owned 17,203,688 shares in the company, valued at approximately $120,081,742.24. This represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 23.32% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its position in shares of Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after acquiring an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its position in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after buying an additional 1,499 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in Porch Group in the 3rd quarter valued at approximately $39,000. Osbon Capital Management LLC bought a new stake in Porch Group in the 4th quarter valued at approximately $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Porch Group during the 4th quarter worth approximately $38,000. Institutional investors 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.