Porch Group, Inc. (PRCH) - What Are Analysts Saying About This Stock?

Key Points

• Analysts rate Porch Group a consensus “Buy”: Of 10 firms, six recommend buy, two strong buy and two hold; the average one-year price target is $20.79. Recent target increases include B. Riley’s move to $24.
• Quarterly results beat expectations: Porch reported EPS of $0.10 versus the $0.01 consensus and revenue of $143.86 million compared with estimates of $134.65 million.
• Insiders have been selling shares: Company insiders sold 895,259 shares worth about $17.6 million over the last 90 days, though some transactions were made under pre-arranged trading plans.

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have received a consensus rating of "Buy" from the ten research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.79.

Several research firms have recently issued reports on PRCH. B. Riley Financial raised their price objective on Porch Group from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Weiss Ratings raised shares of Porch Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $16.25 to $16.50 and gave the stock a "market perform" rating in a research note on Thursday, July 30th. Benchmark raised their target price 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 lifted their price target on shares of Porch Group from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, September 25th.

Porch Group Price Performance

Shares of Porch Group stock opened at $20.64 on Tuesday. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.46 and a current ratio of 1.46. Porch Group has a one year low of $6.36 and a one year high of $21.96. The stock's fifty day moving average is $17.64 and its 200 day moving average is $12.38. The stock has a market cap of $2.72 billion, a P/E ratio of 258.00 and a beta of 3.16.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.09. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. The business had revenue of $143.86 million during the quarter, compared to analyst estimates of $134.65 million. Sell-side analysts anticipate that Porch Group will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Matt Ehrlichman sold 19,452 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $20.17, for a total transaction of $392,346.84. Following the transaction, the chief executive officer owned 15,425,790 shares of the company's stock, valued at approximately $311,138,184.30. This represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Tabak sold 30,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $21.02, for a total value of $630,600.00. Following the transaction, the chief financial officer directly owned 176,059 shares in the company, valued at $3,700,760.18. The trade was a 14.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 895,259 shares of company stock worth $17,619,683. 27.78% of the stock is owned by company insiders.

Institutional Trading of Porch Group

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in Porch Group by 122.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 605,152 shares of the company's stock worth $10,082,000 after purchasing an additional 332,985 shares during the last quarter. Fifth Third Bancorp raised its position in Porch Group by 83.9% during the third quarter. Fifth Third Bancorp now owns 242,189 shares of the company's stock valued at $4,035,000 after acquiring an additional 110,493 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Porch Group by 319.3% in the 3rd quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company's stock valued at $1,890,000 after purchasing an additional 86,394 shares during the period. Pictet Asset Management Holding SA boosted its position in Porch Group by 31.2% during the third quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company's stock worth $238,000 after purchasing an additional 3,406 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in Porch Group during the third quarter worth $378,000. Institutional investors and hedge funds own 48.48% of the company's stock.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the homeownership market. Its platform serves home-service professionals and related businesses, including home inspectors, and offers tools for managing operations, customer relationships, scheduling and business growth.

The company also provides insurance products and services for homeowners and works with real estate and mortgage professionals. Its offerings include software for home inspectors and mortgage companies, alongside insurance capabilities that support customers through the homebuying and homeownership process.

Founded in 2012 and based in Seattle, Washington, Porch has expanded its platform through acquisitions, including home-inspection and mortgage technology businesses.

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