Porch Group (NASDAQ:PRCH) Receives "Hold (C)" Rating from Weiss Ratings

Porch Group (NASDAQ:PRCH - Get Free Report)'s stock had its "hold (c)" rating reissued by analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

PRCH has been the subject of several other reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price objective on shares of Porch Group in a report on Tuesday, September 2nd. Zacks Research cut shares of Porch Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Oppenheimer reaffirmed an "outperform" rating and issued a $25.00 price objective (up previously from $17.00) on shares of Porch Group in a research note on Monday, September 22nd. B. Riley began coverage on shares of Porch Group in a research note on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Benchmark increased their target price on shares of Porch Group from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Porch Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.56.

Porch Group Stock Up 0.2%

PRCH opened at $16.37 on Friday. The company's 50-day moving average price is $16.77 and its 200 day moving average price is $12.66. Porch Group has a fifty-two week low of $1.28 and a fifty-two week high of $19.44. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 32.10 and a beta of 2.87.

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

Insider Activity

In related 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 value of $1,027,950.00. Following the transaction, the chief operating officer owned 999,784 shares in the company, valued at $18,685,962.96. This trade represents a 5.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amanda L. Reierson sold 50,000 shares of Porch Group stock in a transaction on Friday, September 12th. The stock was 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 $2,674,796.25. This trade represents a 24.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,000 shares of company stock worth $3,019,700. Insiders own 23.32% of the company's stock.

Institutional Trading of Porch Group

Several institutional investors have recently made changes to their positions in PRCH. GAMMA Investing LLC boosted its position in shares of Porch Group by 23.7% during the 1st quarter. GAMMA Investing LLC now owns 12,522 shares of the company's stock valued at $91,000 after acquiring an additional 2,397 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Porch Group by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 329,379 shares of the company's stock valued at $2,401,000 after buying an additional 9,670 shares in the last quarter. Viewpoint Capital Management LLC lifted its position in shares of Porch Group by 10.8% during the first quarter. Viewpoint Capital Management LLC now owns 204,900 shares of the company's stock worth $1,494,000 after purchasing an additional 20,000 shares in the last quarter. CWM LLC lifted its position in shares of Porch Group by 112.2% during the first 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. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Porch Group during the first quarter worth approximately $1,604,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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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