Porch Group, Inc. (NASDAQ:PRCH) Given Average Rating of "Buy" by Analysts

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has earned a consensus rating of "Buy" from the eight brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.89.

Several research firms recently commented on PRCH. Loop Capital reaffirmed a "buy" rating and set a $13.00 target price (up previously from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Stephens raised their target price on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Benchmark raised their target price on Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods raised their target price on Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Finally, Oppenheimer increased their price target on Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th.

Porch Group Price Performance

NASDAQ PRCH opened at $11.78 on Friday. The business has a 50 day simple moving average of $9.34 and a 200 day simple moving average of $6.77. Porch Group has a one year low of $1.05 and a one year high of $12.20. The stock has a market capitalization of $1.43 billion, a P/E ratio of -84.14 and a beta of 2.63.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The business had revenue of $104.75 million for the quarter, compared to analyst estimates of $79.44 million. Equities analysts expect that Porch Group will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total value of $53,400.00. Following the transaction, the chief financial officer now owns 218,580 shares in the company, valued at $1,167,217.20. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew Neagle sold 250,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $10.23, for a total value of $2,557,500.00. Following the completion of the transaction, the chief operating officer now owns 1,198,080 shares in the company, valued at $12,256,358.40. This represents a 17.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 475,000 shares of company stock worth $4,895,150. Corporate insiders own 23.32% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Porch Group during the fourth quarter valued at approximately $176,000. Rhumbline Advisers increased its position in shares of Porch Group by 28.7% during the first quarter. Rhumbline Advisers now owns 99,436 shares of the company's stock valued at $725,000 after acquiring an additional 22,159 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Porch Group by 801.6% during the first quarter. GAMMA Investing LLC now owns 91,285 shares of the company's stock valued at $665,000 after acquiring an additional 81,160 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Porch Group during the fourth quarter valued at approximately $51,000. Finally, JPMorgan Chase & Co. increased its position in shares of Porch Group by 225.1% during the fourth quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock valued at $3,593,000 after acquiring an additional 505,660 shares during the last quarter. Institutional investors 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.

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