Porch Group, Inc. (NASDAQ:PRCH) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Porch Group, Inc. has received an average rating of "Moderate Buy" from ten research firms, with one strong buy rating, seven buy ratings, and two hold ratings.
• The average 12-month price target for Porch Group stock is $15.67, reflecting positive analyst sentiment toward the company.
• Recent insider activity includes significant sales by directors, with a 19.43% decrease in ownership for one director following a sale of 40,000 shares.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has received an average rating of "Moderate Buy" from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.6667.

A number of brokerages have issued reports on PRCH. Loop Capital reissued a "buy" rating and set a $13.00 price objective (up from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. B. Riley began coverage on shares of Porch Group in a research note on Tuesday, July 1st. They set a "buy" rating and a $15.00 target price on the stock. Benchmark increased their price target on shares of Porch Group from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday. Oppenheimer raised their price objective on shares of Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group initiated coverage on Porch Group in a research report on Tuesday, September 2nd. They set a "buy" rating and a $21.00 price objective on the stock.

Porch Group Price Performance

PRCH opened at $18.13 on Thursday. Porch Group has a one year low of $1.16 and a one year high of $19.22. The business has a 50 day simple moving average of $14.73 and a two-hundred day simple moving average of $10.33. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 35.55 and a beta of 2.84.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.16. The firm had revenue of $119.30 million for the quarter, compared to analyst estimates of $98.06 million. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%. Porch Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Activity at Porch Group

In other news, Director Regi Vengalil sold 40,000 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.20, for a total transaction of $728,000.00. Following the sale, the director owned 165,903 shares in the company, valued at approximately $3,019,434.60. The trade was a 19.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rachel Lam sold 25,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $15.21, for a total transaction of $380,250.00. Following the completion of the sale, the director directly owned 177,991 shares in the company, valued at $2,707,243.11. This represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,000 shares of company stock worth $1,377,000 over the last 90 days. 23.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in Porch Group during the first quarter worth about $29,000. AlphaQuest LLC purchased a new position in shares of Porch Group during the second quarter valued at approximately $33,000. Raymond James Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter worth approximately $50,000. Ameriprise Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter worth approximately $51,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Porch Group in the 4th quarter worth approximately $57,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.

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