Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $5.34

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $5.34.

A number of analysts have recently commented on PRCH shares. Loop Capital restated a "hold" rating and set a $6.00 price objective on shares of Porch Group in a report on Monday, December 9th. Oppenheimer upped their price target on Porch Group from $4.00 to $7.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Craig Hallum raised their price objective on Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Benchmark reiterated a "buy" rating and set a $7.00 target price on shares of Porch Group in a report on Tuesday, October 29th. Finally, Stephens raised their price target on shares of Porch Group from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Monday, November 11th.

Porch Group Price Performance

NASDAQ:PRCH traded up $0.15 on Wednesday, reaching $4.45. The stock had a trading volume of 1,313,713 shares, compared to its average volume of 1,020,331. Porch Group has a 12-month low of $1.05 and a 12-month high of $6.03. The firm's fifty day moving average is $4.78 and its two-hundred day moving average is $2.82. The company has a market cap of $531.95 million, a price-to-earnings ratio of -6.36 and a beta of 2.05.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results 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 company had revenue of $111.20 million during the quarter. During the same quarter in the prior year, the firm earned ($0.12) EPS. As a group, research analysts forecast that Porch Group will post -0.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Shawn Tabak sold 21,774 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the sale, the chief financial officer now directly owns 287,839 shares of the company's stock, valued at approximately $1,727,034. This trade 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. Insiders own 23.46% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. purchased a new position in shares of Porch Group during the 4th quarter valued at approximately $810,000. Rhumbline Advisers raised its holdings in Porch Group by 30.4% in the fourth quarter. Rhumbline Advisers now owns 77,277 shares of the company's stock valued at $380,000 after acquiring an additional 18,024 shares in the last quarter. Rik Saylor Financial Inc. bought a new position in Porch Group during the 4th quarter valued at $49,000. SG Americas Securities LLC grew its holdings in Porch Group by 73.0% during the 4th quarter. SG Americas Securities LLC now owns 47,187 shares of the company's stock worth $232,000 after acquiring an additional 19,915 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after purchasing an additional 6,527 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.

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.