Analysts Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $7.89

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $7.89.

PRCH has been the subject of a number of research analyst reports. Oppenheimer raised their price objective on Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Benchmark raised their price objective on Porch Group from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Stephens raised their price objective on Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Keefe, Bruyette & Woods raised their price objective on Porch Group from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Finally, Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Wednesday, February 26th.

Porch Group Stock Performance

Shares of Porch Group stock opened at $10.50 on Friday. Porch Group has a one year low of $1.05 and a one year high of $11.35. The stock’s fifty day moving average is $6.50 and its 200 day moving average is $5.18. The stock has a market cap of $1.26 billion, a P/E ratio of -15.00 and a beta of 2.44.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The company had revenue of $104.75 million during the quarter, compared to the consensus estimate of $79.44 million. Analysts predict that Porch Group will post -0.63 EPS for the current year.

Insider Buying and Selling

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total value of $374,400.00. Following the completion of the sale, the chief operating officer now owns 1,384,057 shares of the company’s stock, valued at $8,636,515.68. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Tabak sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total transaction of $53,400.00. Following the completion of the sale, the chief financial officer now directly owns 218,580 shares of the company’s stock, valued at approximately $1,167,217.20. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,554 shares of company stock worth $1,273,590. Corporate insiders own 23.46% of the company’s stock.

Institutional Trading of Porch Group

Several institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in Porch Group by 471.6% in the first quarter. Sei Investments Co. now owns 68,247 shares of the company’s stock worth $469,000 after purchasing an additional 56,307 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Porch Group by 32,198.9% in the first quarter. Russell Investments Group Ltd. now owns 450,893 shares of the company’s stock worth $3,287,000 after purchasing an additional 449,497 shares during the last quarter. Informed Momentum Co LLC lifted its stake in Porch Group by 209.2% in the first quarter. Informed Momentum Co LLC now owns 603,891 shares of the company’s stock worth $4,402,000 after purchasing an additional 408,574 shares during the last quarter. HighTower Advisors LLC bought a new stake in Porch Group in the first quarter worth about $983,000. Finally, Invesco Ltd. lifted its stake in Porch Group by 72.2% in the first quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock worth $21,114,000 after purchasing an additional 1,213,951 shares during the last quarter. 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.