Stephens Raises Porch Group (NASDAQ:PRCH) Price Target to $10.00

Porch Group (NASDAQ:PRCH) had its target price increased by stock analysts at Stephens from $8.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price objective suggests a potential upside of 47.06% from the stock’s current price.

Several other research analysts have also recently commented on the company. Keefe, Bruyette & Woods increased their price target on Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. Craig Hallum increased their price target on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Benchmark increased their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer upped their price objective on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $7.03.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $6.80 on Friday. The stock has a 50 day moving average price of $5.21 and a 200 day moving average price of $3.79. Porch Group has a 52 week low of $1.05 and a 52 week high of $7.30. The stock has a market capitalization of $816.44 million, a PE ratio of -9.71 and a beta of 2.04.

Insider Transactions at Porch Group

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the transaction, the chief operating officer now owns 1,384,057 shares in the company, valued at $8,636,515.68. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief financial officer now owns 179,613 shares in the company, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. 23.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings 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 valued at $33,000 after purchasing an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Porch Group in the 4th quarter valued at $35,000. Rik Saylor Financial Inc. acquired a new stake in shares of Porch Group in the 4th quarter valued at $49,000. Raymond James Financial Inc. acquired a new stake in shares of Porch Group in the 4th quarter valued at $50,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Porch Group during the 4th quarter valued at $50,000. 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.