Porch Group, Inc. (NASDAQ:PRCH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $16.00.

Several brokerages have recently commented on PRCH. The Goldman Sachs Group started coverage on Porch Group in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 target price for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Porch Group from $7.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, August 13th. Oppenheimer set a $20.00 target price on shares of Porch Group in a research note on Thursday, November 6th. Zacks Research cut shares of Porch Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, B. Riley reaffirmed a “buy” rating on shares of Porch Group in a report on Thursday, November 6th.

Porch Group Price Performance

Shares of PRCH stock opened at $9.88 on Tuesday. The firm has a fifty day moving average of $13.96 and a two-hundred day moving average of $13.59. The firm has a market cap of $1.22 billion, a P/E ratio of 34.07 and a beta of 2.84. Porch Group has a 1-year low of $3.61 and a 1-year high of $19.44. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33.

Porch Group (NASDAQ:PRCH) last issued 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). The company had revenue of $118.08 million for the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a negative return on equity of 51.86% and a net margin of 6.91%. Porch Group has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Porch Group will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Porch Group

In related news, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.20, for a total transaction of $728,000.00. Following the completion of the transaction, the director owned 165,903 shares in the company, valued at $3,019,434.60. The trade was a 19.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amanda L. Reierson sold 50,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $17.67, for a total value of $883,500.00. Following the transaction, the director owned 151,375 shares of the company’s stock, valued at approximately $2,674,796.25. The trade was a 24.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 145,000 shares of company stock worth $2,639,450 over the last ninety days. Company insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd increased its holdings in shares of Porch Group by 956.3% in the 3rd 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 during the period. Larson Financial Group LLC grew 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 worth $31,000 after purchasing an additional 1,499 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Porch Group in the second quarter valued at approximately $33,000. RiverPark Advisors LLC bought a new stake in shares of Porch Group during the third quarter valued at approximately $39,000. Finally, CWM LLC raised its holdings in shares of Porch Group by 112.2% during the first quarter. CWM LLC now owns 8,732 shares of the company’s stock valued at $64,000 after buying an additional 4,617 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.