Benchmark Reaffirms "Buy" Rating for Porch Group (NASDAQ:PRCH)

Porch Group (NASDAQ:PRCH - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $7.00 price target on the stock. Benchmark's price target points to a potential upside of 227.10% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. Craig Hallum lifted their price objective on shares of Porch Group from $3.00 to $4.00 and gave the company a "buy" rating in a report on Tuesday. Cantor Fitzgerald upgraded shares of Porch Group to a "strong-buy" rating in a report on Tuesday, August 13th. Northland Securities dropped their price objective on shares of Porch Group from $5.00 to $3.25 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Porch Group from $3.75 to $1.50 and set a "market perform" rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer dropped their price objective 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. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $4.32.

Porch Group Stock Down 1.8 %

Shares of PRCH traded down $0.04 during trading on Tuesday, reaching $2.14. 6,243,221 shares of the company traded hands, compared to its average volume of 1,366,983. Porch Group has a twelve month low of $0.54 and a twelve month high of $4.78. The stock has a market cap of $254.17 million, a PE ratio of -2.44 and a beta of 2.04. The stock has a 50-day simple moving average of $1.41 and a 200-day simple moving average of $1.92.

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

Institutional Trading of Porch Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in Porch Group by 102.4% in 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 last quarter. SG Americas Securities LLC purchased a new position in Porch Group during the third quarter worth about $42,000. Alpine Global Management LLC purchased a new position in Porch Group during the first quarter worth about $43,000. Susquehanna Fundamental Investments LLC grew its position 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 buying an additional 9,626 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Porch Group during the first quarter worth about $80,000. Hedge funds and other institutional investors 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.