Keefe, Bruyette & Woods Upgrades Porch Group (NASDAQ:PRCH) to “Outperform”

Porch Group (NASDAQ:PRCH) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Wednesday. The firm currently has a $10.50 target price on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 42.08% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer set a $20.00 target price on shares of Porch Group in a research note on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Zacks Research cut Porch Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. B. Riley Financial reaffirmed a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and a consensus price target of $16.31.

Porch Group Trading Up 0.4%

Shares of Porch Group stock opened at $7.39 on Wednesday. Porch Group has a 52-week low of $3.72 and a 52-week high of $19.44. The firm has a market capitalization of $914.00 million, a PE ratio of 25.48 and a beta of 3.08. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $8.77 and its two-hundred day moving average price is $12.67.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $9.66, for a total value of $234,680.04. Following the transaction, the chief financial officer owned 118,130 shares of the company’s stock, valued at approximately $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 57,216 shares of company stock valued at $553,129. Insiders own 23.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRCH. Aster Capital Management DIFC Ltd lifted its position in Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after buying an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after acquiring an additional 1,499 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Porch Group during the second quarter worth 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, State of Alaska Department of Revenue acquired a new stake in shares of Porch Group in the third quarter valued at approximately $80,000. 48.48% of the stock is 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.