Porch Group, Inc. (NASDAQ:PRCH) Receives $4.18 Consensus Price Target from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have earned an average recommendation of "Buy" from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $4.18.

PRCH has been the topic of a number of recent analyst reports. Northland Securities cut their price objective on shares of Porch Group from $5.00 to $3.25 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald upgraded Porch Group to a "strong-buy" rating in a research note on Tuesday, August 13th. Benchmark dropped their price target on shares of Porch Group from $10.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Oppenheimer reduced their price objective on shares of Porch Group from $4.50 to $3.50 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Porch Group from $3.75 to $1.50 and set a "market perform" rating for the company in a research report on Thursday, August 8th.

Institutional Investors Weigh In On Porch Group

Several large investors have recently added to or reduced their stakes in PRCH. Harbor Capital Advisors Inc. acquired a new stake in shares of Porch Group in the 2nd quarter worth about $1,989,000. Acadian Asset Management LLC boosted its position in shares of Porch Group by 444.5% during the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company's stock worth $2,369,000 after buying an additional 1,282,500 shares during the period. Natixis bought a new position in Porch Group in the 1st quarter worth approximately $3,906,000. Renaissance Technologies LLC increased its position in Porch Group by 53.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company's stock valued at $3,299,000 after acquiring an additional 763,800 shares during the period. Finally, Sei Investments Co. acquired a new position in Porch Group during the 2nd quarter worth $477,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Trading Down 6.6 %

Shares of NASDAQ:PRCH traded down $0.10 during midday trading on Monday, hitting $1.42. 343,201 shares of the stock were exchanged, compared to its average volume of 1,251,788. Porch Group has a twelve month low of $0.50 and a twelve month high of $4.78. The stock has a market cap of $140.85 million, a P/E ratio of -1.25 and a beta of 2.04. The company has a 50 day moving average price of $1.39 and a 200-day moving average price of $2.02.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same period last year, the business earned ($0.73) EPS. On average, equities research analysts expect that Porch Group will post -0.76 earnings per share for the current year.

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.