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

Porch Group, Inc. (NASDAQ:PRCH) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.2143.

PRCH has been the topic of several research reports. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Benchmark upped their target price on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Stephens initiated coverage on Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd.

Insider Activity at Porch Group

In related news, CEO Matt Ehrlichman sold 120,368 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total transaction of $1,177,199.04. Following the sale, the chief executive officer owned 15,972,080 shares of the company’s stock, valued at $156,206,942.40. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Shawn Tabak sold 3,944 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.87, for a total value of $42,871.28. Following the sale, the chief financial officer directly owned 265,495 shares in the company, valued at approximately $2,885,930.65. The trade was a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,505,010 shares of company stock valued at $22,195,198 over the last quarter. Insiders own 27.78% of the company’s stock.

Institutional Trading of Porch Group

A number of large investors have recently made changes to their positions in PRCH. AQR Capital Management LLC boosted its stake in shares of Porch Group by 134.7% during the first quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after acquiring an additional 130,166 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Porch Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after acquiring an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after acquiring an additional 26,119 shares during the last quarter. Creative Planning acquired a new stake in shares of Porch Group during the second quarter valued at $136,000. Finally, Legal & General Group Plc boosted its stake in shares of Porch Group by 1,203.8% during the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock valued at $1,282,000 after acquiring an additional 100,417 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

Porch Group stock opened at $12.38 on Friday. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -72.82 and a beta of 3.22. Porch Group has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The stock’s fifty day moving average is $9.61 and its two-hundred day moving average is $8.76.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. Analysts predict that Porch Group will post -0.04 EPS for the current fiscal year.

About Porch Group

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.