Porch Group, Inc. (NASDAQ:PRCH) Receives $5.34 Average Target Price from Brokerages

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.34.

PRCH has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $7.00 price target on shares of Porch Group in a research report on Tuesday, October 29th. Loop Capital reissued a “hold” rating and set a $6.00 price target on shares of Porch Group in a research report on Monday. Oppenheimer increased their price objective on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday. Stephens upped their price target on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Craig Hallum lifted their price objective on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

Porch Group Price Performance

Porch Group stock opened at $5.23 on Tuesday. The firm has a market capitalization of $625.22 million, a P/E ratio of -7.47 and a beta of 2.14. Porch Group has a 52-week low of $1.05 and a 52-week high of $5.70. The stock has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $2.04.

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 278,298 shares of the company’s stock, valued at approximately $556,596. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the business. Zacks Investment Management purchased a new stake in Porch Group in the 3rd quarter valued at $32,000. Mackenzie Financial Corp raised its stake in shares of Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after purchasing an additional 12,097 shares during the period. Caprock Group LLC purchased a new stake in shares of Porch Group in the third quarter worth about $37,000. SG Americas Securities LLC purchased a new stake in shares of Porch Group in the 3rd quarter valued at about $42,000. Finally, Los Angeles Capital Management LLC bought a new stake in Porch Group during the third quarter valued at approximately $46,000. 48.48% of the stock is owned by institutional investors and hedge funds.

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.