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

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have received a consensus rating of "Buy" from the nine analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.28.

Several brokerages have recently commented on PRCH. Benchmark boosted their price target on Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. B. Riley started coverage on Porch Group in a research report on Tuesday, July 1st. They set a "buy" rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Oppenheimer lifted their price target on Porch Group from $9.00 to $14.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Loop Capital reiterated a "buy" rating and issued a $13.00 price objective (up from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th.

Insider Buying and Selling

In other news, Director Alan R. Pickerill sold 40,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.26, for a total value of $450,400.00. Following the sale, the director directly owned 182,416 shares in the company, valued at $2,054,004.16. This represents a 17.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Tabak sold 30,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $11.23, for a total value of $336,900.00. Following the sale, the chief financial officer directly owned 172,671 shares in the company, valued at approximately $1,939,095.33. The trade was a 14.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 465,000 shares of company stock worth $4,841,750. 23.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Several hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Porch Group during the fourth quarter valued at approximately $176,000. Rhumbline Advisers raised its holdings in Porch Group by 28.7% in the 1st 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 raised its holdings in Porch Group by 801.6% in the 1st 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 position in shares of Porch Group during the 4th quarter worth $51,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Porch Group by 225.1% during the 4th quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock worth $3,593,000 after purchasing an additional 505,660 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Price Performance

Shares of NASDAQ PRCH traded up $0.16 during trading on Wednesday, hitting $13.42. 1,347,810 shares of the company were exchanged, compared to its average volume of 2,004,075. Porch Group has a 1 year low of $1.05 and a 1 year high of $14.34. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -95.86 and a beta of 2.67. The firm's fifty day moving average price is $11.39 and its 200 day moving average price is $7.81.

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

Porch Group Company Profile

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.