Porch Group, Inc. (NASDAQ:PRCH) Receives Consensus Rating of "Buy" from Analysts

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has earned an average recommendation of "Buy" from the eight research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.89.

PRCH has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Loop Capital restated a "buy" rating and set a $13.00 price target (up previously from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. Oppenheimer upped their price objective 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 target price on Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Stephens lifted their price target on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, March 21st.

Porch Group Price Performance

NASDAQ:PRCH traded up $0.16 during mid-day trading on Tuesday, hitting $9.63. The company's stock had a trading volume of 1,575,869 shares, compared to its average volume of 2,117,873. Porch Group has a 1 year low of $1.05 and a 1 year high of $12.20. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -13.76 and a beta of 2.44. The business's fifty day moving average is $7.54 and its two-hundred day moving average is $5.94.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.09. The company had revenue of $104.75 million during the quarter, compared to analyst estimates of $79.44 million. Analysts anticipate that Porch Group will post -0.63 EPS for the current fiscal year.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 10,000 shares of Porch Group 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 sale, the chief financial officer now directly owns 218,580 shares of the company's stock, valued at $1,167,217.20. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $9.94, for a total value of $596,400.00. Following the sale, the chief operating officer now owns 1,078,080 shares of the company's stock, valued at $10,716,115.20. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 467,328 shares of company stock valued at $4,404,523 over the last 90 days. Corporate insiders own 23.32% of the company's stock.

Institutional Investors Weigh In On Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. FNY Investment Advisers LLC acquired a new stake in shares of Porch Group in the first quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new stake in Porch Group in the 4th quarter valued at about $35,000. CWM LLC lifted its stake in Porch Group by 112.2% in the 1st quarter. CWM LLC now owns 8,732 shares of the company's stock worth $64,000 after purchasing an additional 4,617 shares in the last quarter. Rik Saylor Financial Inc. acquired a new position in shares of Porch Group during the 4th quarter worth approximately $49,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Porch Group during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds 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.