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

Porch Group (NASDAQ:PRCH - Get Free Report) had its price target raised by equities research analysts at Cantor Fitzgerald from $3.00 to $5.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 15.74% from the stock's previous close.

Separately, Keefe, Bruyette & Woods raised their price target on shares of Porch Group from $3.50 to $3.75 and gave the company a "market perform" rating in a research note on Friday, March 22nd.

Porch Group Trading Up 7.7 %

PRCH traded up $0.31 on Wednesday, hitting $4.32. 1,867,844 shares of the company's stock were exchanged, compared to its average volume of 1,681,306. The firm has a market cap of $421.61 million, a PE ratio of -3.06 and a beta of 2.16. Porch Group has a twelve month low of $0.50 and a twelve month high of $4.53. The stock has a fifty day moving average of $3.20 and a two-hundred day moving average of $2.16.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.13. Porch Group had a negative net margin of 31.12% and a negative return on equity of 1,182.09%. The firm had revenue of $114.61 million for the quarter, compared to analyst estimates of $99.60 million. During the same quarter in the prior year, the business earned ($0.32) earnings per share. On average, analysts predict that Porch Group will post -0.83 EPS for the current year.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 19,040 shares of the firm's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $4.04, for a total value of $76,921.60. Following the sale, the chief financial officer now owns 292,311 shares in the company, valued at $1,180,936.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 20.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Graham Capital Management L.P. bought a new stake in Porch Group during the first quarter worth approximately $69,000. Victory Capital Management Inc. bought a new stake in Porch Group during the fourth quarter worth approximately $32,000. Centiva Capital LP bought a new stake in Porch Group during the second quarter worth approximately $29,000. Synovus Financial Corp bought a new stake in Porch Group during the first quarter worth approximately $81,000. Finally, Cape Investment Advisory Inc. bought a new stake in Porch Group during the fourth quarter worth approximately $39,000. 48.48% of the stock is currently 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.