Stephens Boosts Porch Group (NASDAQ:PRCH) Price Target to $5.00

Porch Group (NASDAQ:PRCH - Get Free Report) had its price target raised by research analysts at Stephens from $4.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Stephens' target price suggests a potential upside of 57.23% from the stock's previous close.

A number of other analysts have also recently issued reports on the company. Oppenheimer lowered their target price on Porch Group from $4.50 to $3.50 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Benchmark restated a "buy" rating and set a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Cantor Fitzgerald upgraded Porch Group to a "strong-buy" rating in a report on Tuesday, August 13th. Craig Hallum upped their price objective on Porch Group from $3.00 to $4.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Northland Securities dropped their target price on Porch Group from $5.00 to $3.25 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $4.18.

Porch Group Stock Performance

NASDAQ:PRCH traded down $0.44 on Monday, reaching $3.18. The company's stock had a trading volume of 4,399,514 shares, compared to its average volume of 1,455,087. The firm has a market cap of $377.69 million, a PE ratio of -5.26 and a beta of 1.98. The business's 50-day moving average price is $1.60 and its two-hundred day moving average price is $1.86. Porch Group has a 1-year low of $1.00 and a 1-year high of $4.78.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the transaction, the chief financial officer now owns 278,298 shares of the company's stock, valued at $556,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.46% of the company's stock.

Hedge Funds Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCH. Citizens Financial Group Inc. RI boosted its holdings in shares of Porch Group by 128.6% during the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company's stock worth $614,000 after acquiring an additional 225,000 shares during the period. Caprock Group LLC acquired a new stake in Porch Group during the 3rd quarter worth approximately $37,000. GSA Capital Partners LLP boosted its stake in Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company's stock valued at $2,353,000 after purchasing an additional 1,058,653 shares during the period. Los Angeles Capital Management LLC acquired a new position in Porch Group in the 3rd quarter valued at $46,000. Finally, Harbor Capital Advisors Inc. increased its position in Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company's stock worth $5,794,000 after buying an additional 2,457,915 shares during the period. Institutional investors 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.