Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $18.83 and last traded at $18.37, with a volume of 522775 shares changing hands. The stock had previously closed at $18.20.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on PRCH shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $20.00 price objective on shares of Porch Group in a report on Tuesday, September 2nd. B. Riley started coverage on Porch Group in a report on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Porch Group in a report on Tuesday, September 2nd. They issued a "buy" rating and a $21.00 price objective on the stock. Oppenheimer boosted their price target on Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, Zacks Research lowered Porch Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Porch Group presently has an average rating of "Moderate Buy" and a consensus price target of $15.67.
View Our Latest Stock Report on PRCH
Porch Group Trading Down 3.9%
The company has a 50 day moving average price of $14.95 and a 200 day moving average price of $10.53. The firm has a market cap of $2.14 billion, a PE ratio of 34.20 and a beta of 2.84.
Porch Group (NASDAQ:PRCH - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.16. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%.The firm 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. As a group, equities research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.
Insider Activity at Porch Group
In related news, Director Regi Vengalil sold 40,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.20, for a total value of $728,000.00. Following the sale, the director owned 165,903 shares of the company's stock, valued at approximately $3,019,434.60. This represents a 19.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew Neagle sold 55,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 999,784 shares in the company, valued at approximately $18,685,962.96. The trade was a 5.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,000 shares of company stock valued at $2,136,200. 23.32% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in Porch Group in the 1st quarter valued at $29,000. AlphaQuest LLC acquired a new position in Porch Group in the 2nd quarter valued at $33,000. Ameriprise Financial Inc. acquired a new position in Porch Group in the 4th quarter valued at $51,000. Squarepoint Ops LLC acquired a new position in Porch Group in the 4th quarter valued at $57,000. Finally, BNP Paribas Financial Markets acquired a new position in Porch Group in the 4th quarter valued at $62,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.
Porch Group Company Profile
(
Get Free Report)
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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