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

Porch Group, Inc. (NASDAQ:PRCH) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.34.

A number of research firms recently commented on PRCH. Benchmark restated a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Stephens boosted their price objective on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Craig Hallum increased their target price on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Oppenheimer lifted their price target on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Loop Capital restated a “hold” rating and issued a $6.00 price objective on shares of Porch Group in a research note on Monday, December 9th.

Porch Group Price Performance

NASDAQ PRCH opened at $4.29 on Wednesday. The company has a 50 day simple moving average of $4.74 and a 200-day simple moving average of $2.78. Porch Group has a 52-week low of $1.05 and a 52-week high of $6.03. The firm has a market capitalization of $512.83 million, a price-to-earnings ratio of -6.13 and a beta of 2.05.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $111.20 million for the quarter. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, analysts predict that Porch Group will post -0.63 EPS for the current year.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the sale, the chief financial officer now owns 287,839 shares in the company, valued at $1,727,034. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 23.46% of the stock is owned by corporate insiders.

Institutional Trading of Porch Group

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after acquiring an additional 6,527 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in Porch Group by 34.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock valued at $57,000 after purchasing an additional 9,626 shares during the last quarter. Rik Saylor Financial Inc. bought a new position in Porch Group in the 4th quarter valued at $49,000. GAMMA Investing LLC bought a new stake in shares of Porch Group during the fourth quarter worth $50,000. Finally, Mackenzie Financial Corp increased its stake in shares of Porch Group by 102.4% in the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after buying an additional 12,097 shares in the last quarter. 48.48% of the stock is owned by 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.