Porch Group, Inc. (NASDAQ:PRCH) Receives $15.67 Consensus PT from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $15.6667.

A number of analysts have recently commented on PRCH shares. Zacks Research cut Porch Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Benchmark boosted their price objective on Porch Group from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Porch Group in a research note on Tuesday, September 2nd. Oppenheimer upped their price target on Porch Group from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Finally, B. Riley initiated coverage on Porch Group in a report on Tuesday, July 1st. They issued a “buy” rating and a $15.00 price objective on the stock.

Insider Activity at Porch Group

In related news, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.20, for a total value of $728,000.00. Following the sale, the director owned 165,903 shares in the company, valued at approximately $3,019,434.60. The trade was a 19.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew Neagle sold 55,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total value of $1,027,950.00. Following the sale, the chief operating officer owned 999,784 shares in the company, valued at approximately $18,685,962.96. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,000 shares of company stock worth $2,136,200. 23.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

Large investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in Porch Group during the 1st quarter worth about $29,000. AlphaQuest LLC purchased a new stake in Porch Group during the 2nd quarter worth about $33,000. Raymond James Financial Inc. purchased a new stake in Porch Group during the 4th quarter worth about $50,000. Ameriprise Financial Inc. purchased a new stake in Porch Group during the 4th quarter worth about $51,000. Finally, Squarepoint Ops LLC purchased a new stake in Porch Group during the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Stock Up 1.3%

Shares of NASDAQ:PRCH opened at $17.66 on Thursday. Porch Group has a 52-week low of $1.26 and a 52-week high of $19.22. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 34.63 and a beta of 2.83. The business has a 50-day moving average price of $15.05 and a 200-day moving average price of $10.66.

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