Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $8.89

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.66.

A number of equities research analysts have recently issued reports on the company. Loop Capital reiterated a "buy" rating and issued a $13.00 target price (up previously from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. B. Riley assumed coverage on shares of Porch Group in a research note on Tuesday. They set a "buy" rating and a $15.00 price objective on the stock. Oppenheimer boosted their target price on shares of Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Benchmark raised their price target on shares of Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Stephens lifted their price target on shares of Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st.

Insider Activity at Porch Group

In related news, Director Rachel Lam sold 25,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $10.75, for a total value of $268,750.00. Following the sale, the director directly owned 202,991 shares of the company's stock, valued at $2,182,153.25. This represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan R. Pickerill sold 40,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.26, for a total transaction of $450,400.00. Following the transaction, the director directly owned 182,416 shares of the company's stock, valued at approximately $2,054,004.16. This represents a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 475,000 shares of company stock worth $4,895,150 over the last three months. 23.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Porch Group in the first quarter worth $29,000. Jones Financial Companies Lllp bought a new position in shares of Porch Group in the 4th quarter worth about $35,000. Raymond James Financial Inc. bought a new position in shares of Porch Group in the 4th quarter worth about $50,000. Ameriprise Financial Inc. acquired a new position in shares of Porch Group in the 4th quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Porch Group by 91.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock valued at $54,000 after buying an additional 5,273 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Porch Group Trading Up 2.5%

PRCH traded up $0.30 during trading on Friday, hitting $12.09. 3,759,859 shares of the company's stock were exchanged, compared to its average volume of 2,179,918. Porch Group has a 1 year low of $1.05 and a 1 year high of $12.82. The stock has a 50 day moving average price of $9.63 and a 200 day moving average price of $6.88. The firm has a market cap of $1.47 billion, a P/E ratio of -86.36 and a beta of 2.67.

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

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.