Porch Group, Inc. (NASDAQ:PRCH) Receives $4.67 Consensus Target Price from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $4.18.

A number of equities research analysts have recently weighed in on PRCH shares. Oppenheimer dropped their price target on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Craig Hallum dropped their price target on shares of Porch Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods dropped their price target on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Benchmark dropped their price target on shares of Porch Group from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Northland Securities dropped their price target on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

Porch Group Stock Up 12.8 %

Shares of PRCH stock opened at $1.23 on Wednesday. The firm has a 50 day moving average price of $1.73 and a two-hundred day moving average price of $2.67. The company has a market capitalization of $122.00 million, a PE ratio of -1.08 and a beta of 2.06. Porch Group has a 12-month low of $0.50 and a 12-month high of $4.78.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The business had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $117.91 million. During the same period in the previous year, the business earned ($0.73) EPS. As a group, research analysts expect that Porch Group will post -0.65 EPS for the current year.

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $2.02, for a total value of $30,300.00. Following the transaction, the chief financial officer now directly owns 295,142 shares of the company’s stock, valued at $596,186.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.46% of the stock is currently owned by insiders.

Institutional Trading of Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC bought a new stake in shares of Porch Group during the first quarter worth $43,000. Victory Capital Management Inc. bought a new stake in shares of Porch Group during the fourth quarter worth $32,000. Cape Investment Advisory Inc. bought a new stake in shares of Porch Group during the fourth quarter worth $39,000. SG Americas Securities LLC bought a new stake in shares of Porch Group during the fourth quarter worth $53,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Porch Group during the first quarter worth $80,000. 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.