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

Key Points

• Moderate Buy consensus from nine analysts (7 buys, 1 hold, 1 sell) with an average 1-year price target of $17.21.
• Porch beat quarterly estimates (EPS -$0.03 vs. -$0.08; revenue $112.25M vs. $109.13M) but still shows a negative net margin (−0.72%) and negative ROE (−51.86%), with a market cap of about $957M and a P/E of −153.8.
• Insiders sold 936,782 shares (~$6.94M) in the past three months to cover tax obligations (including CEO and COO sales); insiders own 23.32% and institutions own 48.48% of the stock.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has received an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a 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 $17.2143.

Several equities research analysts recently weighed in on PRCH shares. Benchmark reaffirmed a "buy" rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research raised shares of Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Keefe, Bruyette & Woods raised shares of Porch Group from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Porch Group in a research report on Monday, December 29th.

Porch Group Trading Down 4.5%

PRCH opened at $7.69 on Friday. Porch Group has a twelve month low of $5.06 and a twelve month high of $19.44. The company has a 50-day simple moving average of $7.64 and a 200 day simple moving average of $9.58. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. The stock has a market capitalization of $957.10 million, a price-to-earnings ratio of -153.80 and a beta of 3.09.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. The business had revenue of $112.25 million during the quarter, compared to analysts' expectations of $109.13 million. Analysts predict that Porch Group will post 0.02 EPS for the current fiscal year.

Insider Activity

In other Porch Group news, CEO Matt Ehrlichman sold 145,882 shares of the business's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total transaction of $997,832.88. Following the completion of the transaction, the chief executive officer owned 17,163,175 shares of the company's stock, valued at approximately $117,396,117. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 83,599 shares of the business's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $571,817.16. Following the transaction, the chief operating officer directly owned 2,607,657 shares of the company's stock, valued at approximately $17,836,373.88. The trade was a 3.11% decrease in their position. 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. In the last three months, insiders have sold 936,782 shares of company stock valued at $6,939,605. Insiders own 23.32% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd raised its stake in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company's stock worth $26,000 after acquiring an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its stake in Porch Group by 444.8% during 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 in the last quarter. RiverPark Advisors LLC acquired a new position in Porch Group during the third quarter worth about $39,000. Osbon Capital Management LLC acquired a new position in Porch Group during the fourth quarter worth about $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Porch Group during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 48.48% of the company's stock.

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.

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