Stephens Begins Coverage on Porch Group (NASDAQ:PRCH)

Stock analysts at Stephens initiated coverage on shares of Porch Group (NASDAQ:PRCH) in a research note issued on Monday. The brokerage set an “overweight” rating and a $12.00 price target on the stock. Stephens’ price target indicates a potential upside of 14.67% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Benchmark raised their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

Porch Group Stock Performance

Porch Group stock traded up $0.16 during trading on Monday, reaching $10.47. The company had a trading volume of 154,515 shares, compared to its average volume of 1,677,874. Porch Group has a 52 week low of $5.92 and a 52 week high of $19.44. The firm’s 50-day simple moving average is $7.68 and its 200 day simple moving average is $9.26. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -61.43 and a beta of 3.24. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

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

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 10,454 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $8.11, for a total transaction of $84,781.94. Following the sale, the chief financial officer directly owned 364,230 shares of the company’s stock, valued at $2,953,905.30. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Matthew Neagle sold 59,901 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.11, for a total value of $485,797.11. Following the sale, the chief operating officer directly owned 2,361,998 shares in the company, valued at approximately $19,155,803.78. This represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,318,151 shares of company stock valued at $9,948,497 over the last ninety days. 27.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Osbon Capital Management LLC bought a new stake in Porch Group during the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd grew 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 valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Porch Group during the fourth quarter valued at about $38,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Porch Group during the third quarter valued at about $39,000. 48.48% of the stock is owned by institutional investors.

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.