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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.34.

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

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the sale, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.46% of the stock is currently owned by insiders.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Nisa Investment Advisors LLC increased its holdings in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after purchasing an additional 6,527 shares during the period. Rik Saylor Financial Inc. acquired a new position in Porch Group in the 4th quarter valued at $49,000. GAMMA Investing LLC purchased a new position in Porch Group during the 4th quarter worth $50,000. Zacks Investment Management acquired a new stake in shares of Porch Group in the 3rd quarter worth $32,000. Finally, Caprock Group LLC purchased a new stake in shares of Porch Group in the third quarter valued at about $37,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Price Performance

PRCH stock opened at $4.64 on Wednesday. Porch Group has a 1 year low of $1.05 and a 1 year high of $6.03. The firm has a market capitalization of $554.67 million, a P/E ratio of -6.63 and a beta of 2.03. The business’s 50-day moving average is $4.82 and its two-hundred day moving average is $2.86.

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

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.