Porch Group (NASDAQ:PRCH) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated Porch Group's stock rating as "hold (c)", indicating a cautious outlook amid mixed analyst reviews.
• Porch Group recently reported earnings that surpassed expectations, with an earnings per share (EPS) of $0.03 compared to a consensus estimate of ($0.13).
• Insider trading activity has been notable, with significant share sales by Director Rachel Lam and COO Matthew Neagle, highlighting a shift in internal confidence.

Porch Group (NASDAQ:PRCH - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on the company. Zacks Research downgraded Porch Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. The Goldman Sachs Group started coverage on Porch Group in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $21.00 price objective for the company. Benchmark upped their price objective on Porch Group from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Oppenheimer restated an "outperform" rating and issued a $25.00 price objective (up previously from $17.00) on shares of Porch Group in a research note on Monday, September 22nd. Finally, B. Riley started coverage on Porch Group in a research note on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.56.

Porch Group Price Performance

NASDAQ PRCH opened at $15.43 on Wednesday. Porch Group has a 1 year low of $1.26 and a 1 year high of $19.44. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 30.26 and a beta of 2.87. The company has a fifty day moving average price of $16.54 and a 200-day moving average price of $11.89.

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

Insider Transactions at Porch Group

In other news, Director Rachel Lam sold 25,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $15.21, for a total transaction of $380,250.00. Following the transaction, the director owned 177,991 shares of the company's stock, valued at $2,707,243.11. This represents a 12.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew Neagle sold 55,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $18.69, for a total value of $1,027,950.00. Following the transaction, the chief operating officer directly owned 999,784 shares in the company, valued at $18,685,962.96. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 170,000 shares of company stock worth $3,019,700 over the last quarter. 23.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Porch Group

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in Porch Group by 28.7% during the 1st quarter. Rhumbline Advisers now owns 99,436 shares of the company's stock worth $725,000 after purchasing an additional 22,159 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Porch Group by 801.6% during the 1st quarter. GAMMA Investing LLC now owns 91,285 shares of the company's stock worth $665,000 after purchasing an additional 81,160 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Porch Group during the 1st quarter worth about $106,000. Hennessy Advisors Inc. purchased a new stake in Porch Group during the 2nd quarter worth about $19,607,000. Finally, Acadian Asset Management LLC lifted its holdings in Porch Group by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,619,752 shares of the company's stock worth $11,800,000 after purchasing an additional 778,240 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company's stock.

About Porch Group

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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