Porch Group (NASDAQ:PRCH) PT Raised to $4.00

Porch Group (NASDAQ:PRCH - Free Report) had its price objective raised by Craig Hallum from $3.00 to $4.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Northland Securities decreased their price target on Porch Group from $5.00 to $3.25 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Oppenheimer lowered their price target on shares of Porch Group from $4.50 to $3.50 and set an "outperform" rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Porch Group to a "strong-buy" rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods lowered their target price on Porch Group from $3.75 to $1.50 and set a "market perform" rating for the company in a research note on Thursday, August 8th. Finally, Benchmark dropped their target price on Porch Group from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Porch Group has an average rating of "Buy" and an average price target of $4.32.

Porch Group Stock Up 0.5 %

Shares of NASDAQ PRCH traded up $0.01 during trading on Tuesday, hitting $2.19. 6,259,815 shares of the company traded hands, compared to its average volume of 1,367,062. The firm has a market capitalization of $260.11 million, a P/E ratio of -2.49 and a beta of 2.04. The company has a 50-day moving average price of $1.43 and a 200-day moving average price of $1.91. Porch Group has a 1 year low of $0.54 and a 1 year high of $4.78.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.07). The firm had revenue of $110.84 million during the quarter, compared to analyst estimates of $117.91 million. During the same period in the prior year, the firm earned ($0.73) EPS. Research analysts predict that Porch Group will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of Porch Group 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 sale, the chief financial officer now directly owns 278,298 shares in the company, valued at $556,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

Several institutional investors have recently bought and sold shares of PRCH. Mackenzie Financial Corp boosted its stake in 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Porch Group in the third quarter valued at $42,000. Alpine Global Management LLC bought a new position in Porch Group during the first quarter valued at about $43,000. Susquehanna Fundamental Investments LLC grew its holdings in Porch Group by 34.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company's stock worth $57,000 after acquiring an additional 9,626 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Porch Group in the first quarter worth about $80,000. Institutional investors and hedge funds own 48.48% of the company's stock.

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.