Porch Group, Inc. (NASDAQ:PRCH) Receives $8.89 Average PT from Brokerages

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.89.

Several analysts have issued reports on PRCH shares. Keefe, Bruyette & Woods increased their target price 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. Oppenheimer boosted their price objective on shares of Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Stephens boosted their target price on shares of Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Loop Capital reaffirmed a “buy” rating and set a $13.00 target price (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Benchmark boosted their target price on shares of Porch Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th.

Porch Group Stock Up 1.7%

Shares of Porch Group stock opened at $11.05 on Tuesday. Porch Group has a 52 week low of $1.05 and a 52 week high of $12.20. The stock’s fifty day moving average is $7.78 and its two-hundred day moving average is $6.16. The company has a market capitalization of $1.34 billion, a PE ratio of -15.79 and a beta of 2.63.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.09. The firm had revenue of $104.75 million during the quarter, compared to analysts’ expectations of $79.44 million. As a group, research analysts anticipate that Porch Group will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Shawn Tabak sold 10,000 shares of Porch Group stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total value of $53,400.00. Following the completion of the transaction, the chief financial officer now owns 218,580 shares in the company, valued at approximately $1,167,217.20. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $9.94, for a total transaction of $596,400.00. Following the completion of the transaction, the chief operating officer now owns 1,078,080 shares of the company’s stock, valued at approximately $10,716,115.20. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 467,328 shares of company stock valued at $4,404,523 over the last quarter. 23.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Porch Group

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in Porch Group by 73.0% during the 4th quarter. SG Americas Securities LLC now owns 47,187 shares of the company’s stock worth $232,000 after acquiring an additional 19,915 shares in the last quarter. Rik Saylor Financial Inc. acquired a new position in Porch Group in the fourth quarter valued at $49,000. Rhumbline Advisers raised its stake in Porch Group by 30.4% during the 4th quarter. Rhumbline Advisers now owns 77,277 shares of the company’s stock valued at $380,000 after acquiring an additional 18,024 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Porch Group during the fourth quarter worth approximately $810,000. Finally, Jones Financial Companies Lllp purchased a new position in Porch Group during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.