Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.7857.
Several brokerages recently issued reports on PRCH. B. Riley Financial boosted their price target on shares of Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday. Benchmark lifted their price objective on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Cantor Fitzgerald upped their target price on Porch Group from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Stephens initiated coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company.
View Our Latest Stock Analysis on PRCH
Porch Group Stock Performance
Porch Group (NASDAQ:PRCH – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The business had revenue of $131.81 million during the quarter, compared to analyst estimates of $122.30 million. As a group, research analysts predict that Porch Group will post -0.09 EPS for the current year.
Insider Buying and Selling
In other Porch Group news, CEO Matt Ehrlichman sold 120,368 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $1,177,199.04. Following the completion of the transaction, the chief executive officer owned 15,972,080 shares in the company, valued at approximately $156,206,942.40. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Shawn Tabak sold 25,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $16.13, for a total value of $403,250.00. Following the completion of the transaction, the chief financial officer owned 240,495 shares of the company’s stock, valued at approximately $3,879,184.35. This trade represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 636,430 shares of company stock valued at $6,646,889 over the last ninety days. Company insiders own 27.78% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after buying an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after acquiring an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after acquiring an additional 26,119 shares in the last quarter. Creative Planning bought a new position in shares of Porch Group during the second quarter valued at $136,000. Finally, Legal & General Group Plc raised its position in shares of Porch Group by 1,203.8% in the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after purchasing an additional 100,417 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.
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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