Porch Group’s (PRCH) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Porch Group (NASDAQ:PRCH) in a research note published on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $20.00 price target on the stock.

Several other analysts also recently commented on the stock. B. Riley started coverage on shares of Porch Group in a research report on Tuesday, July 1st. They set a “buy” rating and a $15.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Porch Group in a research report on Tuesday. They set a “buy” rating and a $21.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $17.00 price objective (up previously from $12.00) on shares of Porch Group in a research report on Wednesday, July 30th. Zacks Research downgraded shares of Porch Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.22.

Porch Group Stock Up 4.6%

Shares of PRCH stock opened at $17.75 on Tuesday. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 34.80 and a beta of 2.84. Porch Group has a 52 week low of $1.15 and a 52 week high of $18.12. The firm has a 50 day moving average of $13.95 and a 200-day moving average of $9.81.

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

Insider Buying and Selling at Porch Group

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

Institutional Investors Weigh In On Porch Group

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in shares of Porch Group by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after purchasing an additional 1,090 shares during the period. Prudential Financial Inc. raised its stake in shares of Porch Group by 9.4% during the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after purchasing an additional 1,220 shares during the period. CWM LLC raised its stake in shares of Porch Group by 20.1% during the 2nd quarter. CWM LLC now owns 10,485 shares of the company’s stock worth $124,000 after purchasing an additional 1,753 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Porch Group by 12.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,915 shares of the company’s stock worth $211,000 after purchasing an additional 1,916 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Porch Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after purchasing an additional 2,002 shares during the period. 48.48% of the stock is currently owned by institutional investors.

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.