Analysts Set Porch Group, Inc. (NASDAQ:PRCH) PT at $18.79

Porch Group, Inc. (NASDAQ:PRCH) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.4167.

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

Insider Transactions at Porch Group

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 completion of the sale, the chief financial officer owned 215,495 shares of the company’s stock, valued at approximately $3,493,173.95. The trade was a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRCH. 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 acquiring an additional 1,065 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of 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 purchasing an additional 1,090 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Porch Group by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after buying an additional 1,200 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Porch Group by 9.4% during the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after buying an additional 1,220 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 97.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock worth $27,000 after buying an additional 1,481 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Trading Up 2.2%

Shares of PRCH stock opened at $17.74 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. Porch Group has a 12-month low of $6.36 and a 12-month high of $19.44. The stock has a market capitalization of $2.34 billion, a P/E ratio of -147.83 and a beta of 3.17. The firm’s 50 day moving average is $15.17 and its 200 day moving average is $11.10.

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