Porch Group’s (PRCH) Overweight Rating Reaffirmed at Stephens

Porch Group (NASDAQ:PRCH)‘s stock had its “overweight” rating reiterated by equities research analysts at Stephens in a note issued to investors on Thursday, Benzinga reports. They currently have a $6.00 target price on the stock. Stephens’ price objective suggests a potential upside of 63.49% from the company’s current price.

Several other analysts also recently commented on the company. Cantor Fitzgerald increased their target price on Porch Group from $3.00 to $5.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods upped their price target on Porch Group from $3.50 to $3.75 and gave the company a “market perform” rating in a report on Friday, March 22nd.

Porch Group Price Performance

Shares of Porch Group stock opened at $3.67 on Thursday. Porch Group has a 1 year low of $0.50 and a 1 year high of $4.78. The firm’s 50-day moving average is $3.46 and its 200 day moving average is $2.31. The stock has a market cap of $358.18 million, a price-to-earnings ratio of -2.60 and a beta of 2.16.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. Porch Group had a negative net margin of 31.12% and a negative return on equity of 1,182.09%. The business had revenue of $114.61 million during the quarter, compared to analysts’ expectations of $99.60 million. During the same period in the previous year, the company earned ($0.32) earnings per share. On average, equities analysts expect that Porch Group will post -0.83 EPS for the current fiscal year.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 19,040 shares of Porch Group stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $4.04, for a total value of $76,921.60. Following the completion of the sale, the chief financial officer now owns 292,311 shares of the company’s stock, valued at approximately $1,180,936.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 20.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Fidelity National Financial Inc. bought a new stake in shares of Porch Group during the 3rd quarter valued at about $3,772,000. FMR LLC lifted its stake in shares of Porch Group by 7,804.2% in the 1st quarter. FMR LLC now owns 3,267,678 shares of the company’s stock worth $4,673,000 after purchasing an additional 3,226,337 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of Porch Group by 12.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock worth $36,624,000 after buying an additional 1,278,208 shares during the last quarter. State Street Corp grew its position in Porch Group by 57.2% during the second quarter. State Street Corp now owns 3,289,130 shares of the company’s stock valued at $8,420,000 after buying an additional 1,196,716 shares during the period. Finally, Luminus Management LLC increased its holdings in Porch Group by 102.2% during the third quarter. Luminus Management LLC now owns 2,275,000 shares of the company’s stock valued at $1,826,000 after buying an additional 1,150,000 shares during the last quarter. Institutional investors 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.