Porch Group, Inc. (PRCH) – What Are Brokerages Thinking About This Stock?

Porch Group, Inc. (NASDAQ:PRCH) has earned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.79.

Several equities research analysts have recently issued reports on the stock. Texas Capital upgraded shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Wall Street Zen upgraded shares of Porch Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Benchmark increased their price target on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their price target on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Finally, Oppenheimer boosted their price objective on shares of Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th.

Porch Group Stock Performance

NASDAQ:PRCH traded down $0.26 during mid-day trading on Tuesday, hitting $21.05. 734,326 shares of the company’s stock traded hands, compared to its average volume of 2,262,094. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 263.12 and a beta of 3.16. The firm has a 50 day moving average of $17.96 and a two-hundred day moving average of $12.65. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 13.21. Porch Group has a 12 month low of $6.36 and a 12 month high of $22.36.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.01 by $0.09. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. The company had revenue of $143.86 million for the quarter, compared to the consensus estimate of $134.65 million. On average, equities analysts forecast that Porch Group will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sean Davis Kell sold 10,284 shares of Porch Group stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $20.30, for a total transaction of $208,765.20. Following the sale, the director directly owned 292,863 shares of the company’s stock, valued at $5,945,118.90. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Tabak sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $21.02, for a total value of $630,600.00. Following the transaction, the chief financial officer owned 176,059 shares in the company, valued at $3,700,760.18. This represents a 14.56% decrease in their ownership of the stock. 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. Insiders have sold 1,004,302 shares of company stock valued at $19,816,899 in the last quarter. 27.78% of the stock is currently owned by insiders.

Institutional Trading of Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Granahan Investment Management LLC boosted its stake in Porch Group by 9.4% during the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock worth $90,880,000 after buying an additional 1,084,559 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Porch Group in the 2nd quarter valued at $128,995,000. GC Wealth Management RIA LLC acquired a new position in shares of Porch Group in the 1st quarter valued at $29,230,000. Park West Asset Management LLC acquired a new position in shares of Porch Group in the 2nd quarter valued at $53,194,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Porch Group by 42.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after acquiring an additional 455,817 shares during the period. 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 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.