Keefe, Bruyette & Woods Issues Positive Forecast for Porch Group (NASDAQ:PRCH) Stock Price

Porch Group (NASDAQ:PRCH) had its price target increased by Keefe, Bruyette & Woods from $3.50 to $6.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

PRCH has been the topic of several other reports. Oppenheimer raised their target price 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. Craig Hallum boosted their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Stephens increased their price target on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Porch Group presently has an average rating of “Buy” and an average target price of $6.41.

Porch Group Trading Down 1.0 %

Porch Group stock opened at $6.92 on Monday. The stock has a fifty day moving average price of $4.89 and a 200 day moving average price of $3.32. Porch Group has a 52 week low of $1.05 and a 52 week high of $7.19. The firm has a market capitalization of $827.24 million, a P/E ratio of -9.89 and a beta of 2.03.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of the transaction, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at $1,086,658.65. The trade was a 37.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Several large investors have recently made changes to their positions in PRCH. Zacks Investment Management acquired a new stake in Porch Group in the 3rd quarter valued at about $32,000. Nisa Investment Advisors LLC boosted 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 worth $33,000 after acquiring an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Porch Group in the fourth quarter worth $35,000. Caprock Group LLC bought a new stake in Porch Group during the third quarter valued at about $37,000. Finally, Los Angeles Capital Management LLC bought a new position in Porch Group in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds 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.