Porch Group, Inc. (NASDAQ:PRCH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.34.

Several brokerages recently weighed in on PRCH. Loop Capital restated a “hold” rating and issued a $6.00 price objective on shares of Porch Group in a report on Monday, December 9th. Oppenheimer increased their price target on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Stephens lifted their price objective on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Finally, Craig Hallum boosted their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the transaction, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its stake in shares of Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after acquiring an additional 2,457,915 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Portolan Capital Management LLC bought a new position in Porch Group in the third quarter valued at $613,000. Sei Investments Co. acquired a new stake in Porch Group in the 2nd quarter valued at $477,000. Finally, Marshall Wace LLP lifted its position in Porch Group by 11.8% during the 2nd quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock worth $3,250,000 after buying an additional 226,721 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

PRCH stock opened at $4.29 on Wednesday. The stock has a market capitalization of $512.83 million, a PE ratio of -6.13 and a beta of 2.05. The company has a 50 day moving average price of $4.74 and a 200 day moving average price of $2.78. Porch Group has a fifty-two week low of $1.05 and a fifty-two week high of $6.03.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $111.20 million during the quarter. During the same quarter in the previous year, the company posted ($0.12) earnings per share. As a group, equities analysts expect that Porch Group will post -0.63 earnings per share 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.