Porch Group, Inc. (NASDAQ:PRCH) Stock Has Consensus Target Price of $20.79

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average recommendation of “Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.79.

PRCH has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Zacks Research upgraded Porch Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Wall Street Zen upgraded Porch Group from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. B. Riley Financial increased their price objective on Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Oppenheimer boosted their price target 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.

Insider Transactions at Porch Group

In other news, Director Sean Davis Kell sold 10,284 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $20.30, for a total value of $208,765.20. Following the transaction, the director owned 292,863 shares of the company’s stock, valued at approximately $5,945,118.90. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alan R. Pickerill sold 10,000 shares of Porch Group stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $21.00, for a total transaction of $210,000.00. Following the completion of the transaction, the director owned 193,356 shares in the company, valued at approximately $4,060,476. This trade represents a 4.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,004,302 shares of company stock worth $19,816,899. Insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osbon Capital Management LLC purchased a new position in shares of Porch Group in the second quarter valued at $40,000. State of Wyoming purchased a new position in Porch Group during the second quarter worth approximately $64,000. PNC Financial Services Group Inc. grew its position in Porch Group by 697.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after acquiring an additional 8,213 shares during the period. Cetera Investment Advisers purchased a new stake in Porch Group during the first quarter worth approximately $74,000. Finally, Persistent Asset Partners Ltd purchased a new position in Porch Group in the second quarter valued at about $103,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Stock Down 3.7%

Porch Group stock opened at $21.31 on Tuesday. Porch Group has a 52 week low of $6.36 and a 52 week high of $22.36. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. The business’s 50-day moving average price is $17.90 and its 200 day moving average price is $12.59. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 266.38 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The business had revenue of $143.86 million during the quarter, compared to the consensus estimate of $134.65 million. As a group, sell-side analysts anticipate that Porch Group will post -0.01 earnings per share for the current year.

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.