Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Rating of “Buy” by Brokerages

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

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

Insider Buying and Selling at Porch Group

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

Hedge Funds Weigh In On Porch Group

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after acquiring an additional 2,002 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Porch Group by 23.7% in the first quarter. GAMMA Investing LLC now owns 12,522 shares of the company’s stock worth $91,000 after acquiring an additional 2,397 shares during the period. Deutsche Bank AG boosted its holdings in Porch Group by 5.6% in the first quarter. Deutsche Bank AG now owns 53,845 shares of the company’s stock valued at $393,000 after acquiring an additional 2,872 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Porch Group in the first quarter valued at approximately $29,000. Finally, CWM LLC increased its position in Porch Group by 112.2% during the 1st quarter. CWM LLC now owns 8,732 shares of the company’s stock valued at $64,000 after purchasing an additional 4,617 shares during the period. 48.48% of the stock is owned by institutional investors.

Porch Group Trading Up 2.5%

Porch Group stock opened at $9.35 on Tuesday. Porch Group has a 1-year low of $1.05 and a 1-year high of $12.20. The company has a fifty day simple moving average of $7.50 and a 200 day simple moving average of $5.92. The company has a market cap of $1.14 billion, a P/E ratio of -13.36 and a beta of 2.44.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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. On average, equities research analysts forecast that Porch Group will post -0.63 EPS for the current year.

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.