Porch Group, Inc. (NASDAQ:PRCH) Receives $17.00 Consensus Target Price from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.00.

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research note on Monday. Benchmark reiterated a “buy” rating on shares of Porch Group in a research report on Tuesday, November 25th. Oppenheimer set a $20.00 target price on shares of Porch Group in a report on Thursday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Porch Group in a research note on Tuesday, September 2nd. Finally, Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th.

Porch Group Stock Performance

NASDAQ PRCH opened at $9.03 on Friday. The firm’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $13.52. The stock has a market cap of $1.12 billion, a PE ratio of 31.12 and a beta of 3.11. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. Porch Group has a fifty-two week low of $3.72 and a fifty-two week 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 analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $118.08 million during the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. On average, equities analysts expect that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was 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. The trade was a 17.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 57,216 shares of company stock valued at $553,129. Insiders own 23.32% of the company’s stock.

Institutional Trading of Porch Group

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Porch Group by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after buying an additional 48,811 shares during the period. Bank of Montreal Can boosted its stake in Porch Group by 26.3% during the second quarter. Bank of Montreal Can now owns 522,082 shares of the company’s stock worth $6,155,000 after acquiring an additional 108,857 shares in the last quarter. Zweig DiMenna Associates LLC grew its holdings in Porch Group by 296.6% in the second quarter. Zweig DiMenna Associates LLC now owns 872,500 shares of the company’s stock worth $10,287,000 after purchasing an additional 652,500 shares during the period. Calamos Advisors LLC bought a new stake in Porch Group in the second quarter valued at $982,000. Finally, Hennessy Advisors Inc. bought a new stake in Porch Group in the second quarter valued at $19,607,000. 48.48% of the stock is currently owned by institutional investors.

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.