Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Rating of “Buy” by Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has received a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.18.

A number of analysts have weighed in on PRCH shares. Keefe, Bruyette & Woods dropped their target price on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Craig Hallum increased their price objective on shares of Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Oppenheimer lowered their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the sale, the chief financial officer now owns 278,298 shares in the company, valued at approximately $556,596. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently made changes to their positions in PRCH. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Porch Group during the 1st quarter worth approximately $120,000. Natixis acquired a new stake in Porch Group during the 1st quarter worth $3,906,000. Lazard Asset Management LLC acquired a new stake in Porch Group during the 1st quarter worth $525,000. Alpine Global Management LLC bought a new stake in shares of Porch Group during the 1st quarter valued at $43,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Porch Group in the 1st quarter valued at $80,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Stock Performance

PRCH opened at $3.11 on Friday. The stock has a market capitalization of $369.37 million, a PE ratio of -4.44 and a beta of 1.98. The company’s 50 day simple moving average is $1.75 and its 200 day simple moving average is $1.88. Porch Group has a 1 year low of $1.05 and a 1 year high of $4.78.

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.