Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $15.67

Key Points

• Porch Group, Inc. has received an average rating of "Moderate Buy" from ten research firms, with one strong buy rating, seven buy ratings, and two hold ratings.
• The average 12-month price target for Porch Group stock is $15.67, reflecting positive analyst sentiment toward the company.
• Recent insider activity includes significant sales by directors, with a 19.43% decrease in ownership for one director following a sale of 40,000 shares.

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have received an average recommendation of "Moderate Buy" from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $15.6667.

PRCH has been the subject of several recent analyst reports. Zacks Research downgraded Porch Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $7.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 13th. The Goldman Sachs Group started coverage on shares of Porch Group in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $21.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $20.00 price objective on shares of Porch Group in a research note on Tuesday, September 2nd. Finally, Oppenheimer upped their target price on shares of Porch Group from $14.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th.

Porch Group Trading Up 1.6%

Shares of Porch Group stock traded up $0.28 during trading hours on Thursday, reaching $17.94. 1,672,082 shares of the company's stock were exchanged, compared to its average volume of 2,114,289. The stock has a market cap of $2.20 billion, a P/E ratio of 35.18 and a beta of 2.84. The company has a 50 day moving average of $15.16 and a two-hundred day moving average of $10.71. Porch Group has a fifty-two week low of $1.26 and a fifty-two week high of $19.22.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.16. The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $98.06 million. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%. Porch Group has set its FY 2025 guidance at EPS. As a group, analysts expect that Porch Group will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Porch Group news, COO Matthew Neagle sold 55,000 shares of Porch Group stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $18.69, for a total transaction of $1,027,950.00. Following the completion of the transaction, the chief operating officer directly owned 999,784 shares of the company's stock, valued at $18,685,962.96. The trade was a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amanda L. Reierson sold 50,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.67, for a total transaction of $883,500.00. Following the completion of the transaction, the director owned 151,375 shares in the company, valued at approximately $2,674,796.25. This represents a 24.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,000 shares of company stock valued at $3,019,700. 23.32% of the stock is owned by insiders.

Institutional Trading of Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Porch Group in the 4th quarter valued at about $50,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Porch Group by 22.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company's stock worth $151,000 after acquiring an additional 5,557 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Porch Group by 101.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 53,127 shares of the company's stock valued at $261,000 after purchasing an additional 26,756 shares during the last quarter. Northern Trust Corp increased its stake in shares of Porch Group by 5.3% during the fourth quarter. Northern Trust Corp now owns 693,800 shares of the company's stock worth $3,413,000 after purchasing an additional 35,164 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Porch Group by 777.5% during the 4th quarter. Jane Street Group LLC now owns 309,475 shares of the company's stock worth $1,523,000 after purchasing an additional 274,209 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.