Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Target Price at $7.32

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.32.

PRCH has been the subject of a number of research analyst reports. Stephens lifted their target price on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Oppenheimer upped their price target on shares of Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods boosted their price objective on shares of Porch Group from $3.50 to $6.00 and gave the stock a "market perform" rating in a research note on Monday, March 3rd. Benchmark increased their target price on Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Loop Capital raised Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price target for the company in a research report on Wednesday, February 26th.

Porch Group Price Performance

Shares of NASDAQ:PRCH traded up $0.22 during trading on Monday, reaching $5.29. 1,576,736 shares of the company were exchanged, compared to its average volume of 1,829,351. The firm has a market capitalization of $635.14 million, a PE ratio of -7.56 and a beta of 2.15. The business's fifty day simple moving average is $5.95 and its 200-day simple moving average is $4.48. Porch Group has a 12-month low of $1.05 and a 12-month high of $8.49.

Insider Transactions at Porch Group

In other news, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the sale, the chief operating officer now directly owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Shawn Tabak sold 108,226 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the completion of the transaction, the chief financial officer now owns 179,613 shares of the company's stock, valued at $1,086,658.65. This trade represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,554 shares of company stock worth $1,273,590. Insiders own 23.46% of the company's stock.

Hedge Funds Weigh In On Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. FNY Investment Advisers LLC purchased a new position in shares of Porch Group during the first quarter worth $29,000. Nisa Investment Advisors LLC raised its stake in shares of Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock valued at $33,000 after buying an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Porch Group during the 4th quarter valued at about $35,000. Rik Saylor Financial Inc. acquired a new position in shares of Porch Group in the 4th quarter valued at about $49,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Porch Group in the fourth quarter worth about $50,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.