Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) PT at $5.34

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $5.34.

A number of research firms have weighed in on PRCH. Craig Hallum upped their price objective on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Stephens upped their price objective on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Oppenheimer upped their price objective on shares of Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Benchmark restated a “buy” rating and set a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Finally, Loop Capital restated a “hold” rating and set a $6.00 price objective on shares of Porch Group in a research report on Monday, December 9th.

Porch Group Price Performance

PRCH opened at $4.45 on Wednesday. The firm has a fifty day moving average price of $4.78 and a 200 day moving average price of $2.82. Porch Group has a 1 year low of $1.05 and a 1 year high of $6.03. The stock has a market cap of $531.95 million, a P/E ratio of -6.36 and a beta of 2.05.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $111.20 million for the quarter. During the same period in the previous year, the company posted ($0.12) earnings per share. Equities analysts expect that Porch Group will post -0.63 EPS for the current year.

Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 21,774 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the sale, the chief financial officer now owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of PRCH. Harbor Capital Advisors Inc. grew its holdings in shares of Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after purchasing an additional 2,457,915 shares during the period. GSA Capital Partners LLP boosted its stake in Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after buying an additional 1,058,653 shares during the period. Portolan Capital Management LLC purchased a new position in Porch Group during the third quarter worth about $613,000. Sei Investments Co. purchased a new position in Porch Group during the second quarter worth about $477,000. Finally, Marshall Wace LLP boosted its stake in Porch Group by 11.8% during the second quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock worth $3,250,000 after buying an additional 226,721 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.