Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eight brokerages give Porch Group a consensus “Moderate Buy” rating, with five buys, two holds and one sell. The average 12-month price target is $18.42 versus a recent share price of $15.90.
• Quarterly results beat expectations: Porch Group reported earnings of $0.05 per share, exceeding the consensus estimate of a $0.03 loss, while revenue of $131.81 million topped the $122.30 million forecast.
• Insiders have been selling shares: Company insiders sold 133,135 shares worth approximately $2.18 million over the past three months, although institutional investors own 48.48% of the stock.

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.4167.

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Porch Group from $16.25 to $16.50 and gave the company a "market perform" rating in a research report on Thursday, July 30th. B. Riley Financial raised 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. Weiss Ratings upgraded shares of Porch Group from a "sell (d-)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Benchmark boosted their price objective 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. Finally, Cantor Fitzgerald increased their target price on shares of Porch Group from $13.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $15.90 on Monday. The company has a fifty day moving average price of $15.63 and a 200 day moving average price of $11.83. The firm has a market cap of $2.10 billion, a PE ratio of -132.50 and a beta of 3.17. 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 1-year low of $6.36 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that Porch Group will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 25,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total transaction of $405,250.00. Following the completion of the transaction, the chief financial officer directly owned 215,495 shares in the company, valued at $3,493,173.95. This represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amanda Reierson sold 33,135 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $16.46, for a total value of $545,402.10. Following the completion of the transaction, the director owned 134,180 shares of the company's stock, valued at $2,208,602.80. The trade was a 19.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 133,135 shares of company stock valued at $2,176,902 in the last three months. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC increased its holdings in Porch Group by 360.9% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company's stock worth $5,886,000 after buying an additional 504,803 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Porch Group by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company's stock valued at $11,040,000 after acquiring an additional 455,817 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Porch Group in the 1st quarter valued at about $1,015,000. Ashford Capital Management Inc. grew its position in shares of Porch Group by 72.0% in the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company's stock valued at $4,992,000 after acquiring an additional 291,510 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of Porch Group during the 2nd quarter worth about $128,995,000. 48.48% of the stock is currently owned by institutional investors.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the residential real estate and home services industries. Its platform is designed to help home service businesses manage operations, attract customers, and support homeowners throughout the process of buying, moving into, maintaining, and improving a home.

The company's products and services have included software for home inspectors, moving companies, contractors, and other service providers. Porch has also operated businesses connected with homeowners insurance and related services, although its portfolio and operating structure have changed over time as the company has adjusted its strategy.

Founded in 2012, Porch Group is headquartered in Seattle, Washington, and primarily serves the U.S.

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