Porch Group (NASDAQ:PRCH) Earns Overweight Rating from Cantor Fitzgerald

Porch Group (NASDAQ:PRCH)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 12.73% from the company’s current price.

Several other research firms have also commented on PRCH. Loop Capital reiterated a “buy” rating and set a $13.00 price objective (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Oppenheimer upped their price target on Porch Group from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group began coverage on Porch Group in a research note on Tuesday. They issued a “buy” rating and a $21.00 price objective on the stock. Zacks Research cut Porch Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Keefe, Bruyette & Woods raised their price objective on Porch Group from $7.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Porch Group has an average rating of “Moderate Buy” and a consensus target price of $15.22.

Porch Group Stock Performance

PRCH traded up $0.77 during trading on Tuesday, hitting $17.74. 1,118,735 shares of the stock were exchanged, compared to its average volume of 2,413,909. The firm has a 50 day simple moving average of $13.81 and a 200 day simple moving average of $9.76. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 34.53 and a beta of 2.83. Porch Group has a 1 year low of $1.15 and a 1 year high of $18.12.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.16. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%.The firm had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Porch Group will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $11.23, for a total value of $336,900.00. Following the completion of the transaction, the chief financial officer directly owned 172,671 shares of the company’s stock, valued at $1,939,095.33. This represents a 14.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rachel Lam sold 25,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $15.21, for a total transaction of $380,250.00. Following the transaction, the director directly owned 177,991 shares in the company, valued at $2,707,243.11. The trade was a 12.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,000 shares of company stock valued at $1,436,300 in the last ninety days. Insiders own 23.32% of the company’s stock.

Institutional Investors Weigh In On Porch Group

A number of institutional investors have recently modified their holdings of PRCH. Divisadero Street Capital Management LP acquired a new stake in shares of Porch Group in the 2nd quarter valued at $28,810,000. Granahan Investment Management LLC increased its stake in Porch Group by 19.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company’s stock valued at $58,507,000 after acquiring an additional 1,897,816 shares during the period. Driehaus Capital Management LLC bought a new stake in Porch Group in the fourth quarter valued at about $8,550,000. Hennessy Advisors Inc. bought a new stake in Porch Group in the second quarter valued at about $19,607,000. Finally, Monashee Investment Management LLC bought a new stake in Porch Group during the first quarter worth about $11,300,000. Institutional investors and hedge funds 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.