Porch Group (NASDAQ:PRCH) Hits New 1-Year High - Still a Buy?

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $14.34 and last traded at $14.21, with a volume of 1913073 shares traded. The stock had previously closed at $13.38.

Analyst Ratings Changes

Several research firms have recently issued reports on PRCH. Loop Capital reissued a "buy" rating and issued a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods boosted their target price on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. B. Riley began coverage on Porch Group in a research note on Tuesday, July 1st. They set a "buy" rating and a $15.00 price objective on the stock. Oppenheimer upped their target price on Porch Group from $9.00 to $14.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Benchmark lifted their price objective on shares of Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $10.28.

Porch Group Price Performance

The company has a fifty day moving average price of $11.27 and a two-hundred day moving average price of $7.70. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -99.66 and a beta of 2.67.

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

Insiders Place Their Bets

In other news, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $9.94, for a total transaction of $596,400.00. Following the transaction, the chief operating officer directly owned 1,078,080 shares in the company, valued at $10,716,115.20. The trade was a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rachel Lam sold 25,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the transaction, the director owned 202,991 shares in the company, valued at approximately $2,182,153.25. This trade represents a 10.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 465,000 shares of company stock valued at $4,841,750. 23.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Porch Group

A number of large investors have recently bought and sold shares of PRCH. FNY Investment Advisers LLC bought a new position in shares of Porch Group in the 1st quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new stake in shares of Porch Group in the fourth quarter worth $50,000. Ameriprise Financial Inc. bought a new stake in shares of Porch Group during the 4th quarter worth $51,000. Tower Research Capital LLC TRC grew its stake in Porch Group by 91.8% in 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. Finally, Squarepoint Ops LLC bought a new position in Porch Group in the 4th quarter worth $57,000. 48.48% of the stock is currently owned by institutional investors.

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.

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