Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $18.79

Porch Group, Inc. (NASDAQ:PRCH) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.7857.

PRCH has been the subject of a number of recent analyst reports. Benchmark lifted their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. B. Riley Financial raised their price target on shares of Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their price objective on shares of Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total transaction of $405,250.00. Following the sale, the chief financial officer owned 215,495 shares in the company, valued at approximately $3,493,173.95. The trade was a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in Porch Group by 2.8% in the 2nd quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after buying an additional 1,065 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Porch Group by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock valued at $350,000 after acquiring an additional 1,090 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after acquiring an additional 1,200 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after acquiring an additional 1,220 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of Porch Group by 97.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock worth $27,000 after acquiring an additional 1,481 shares during the period. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $16.99 on Thursday. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $2.24 billion, a PE ratio of -141.58 and a beta of 3.15. The business has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $10.97. Porch Group has a fifty-two week low of $6.36 and a fifty-two week high of $19.44.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%.The business had revenue of $131.81 million for the quarter, compared to analyst estimates of $122.30 million. As a group, equities analysts expect that Porch Group will post -0.09 EPS for the current fiscal 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.