Porch Group (NASDAQ:PRCH) Stock Rating Upgraded by Cantor Fitzgerald

Key Points

• Porch Group was upgraded to a "strong-buy" rating by Cantor Fitzgerald, reflecting positive sentiment from analysts regarding the company's stock.
• The company reported earnings surpassing expectations with $0.03 earnings per share, alongside revenue of $119.30 million, compared to analyst estimates of $98.06 million.
• Insider trading activity indicated significant sales of stock by executives, with over 240,000 shares sold in the last three months, impacting their ownership percentages.

Porch Group (NASDAQ:PRCH - Get Free Report) was upgraded by investment analysts at Cantor Fitzgerald to a "strong-buy" rating in a research report issued on Friday,Zacks.com reports.

Several other equities research analysts also recently issued reports on PRCH. Keefe, Bruyette & Woods increased their price target on Porch Group from $7.00 to $16.00 and gave the stock a "market perform" rating in a report on Wednesday, August 13th. Oppenheimer boosted their price objective on Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Loop Capital reiterated a "buy" rating and issued a $13.00 price target (up previously from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and set a $17.00 price target (up from $12.00) on shares of Porch Group in a research note on Wednesday, July 30th. Finally, B. Riley started coverage on Porch Group in a report on Tuesday, July 1st. They set a "buy" rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $13.71.

Porch Group Stock Performance

Porch Group stock traded up $0.0310 on Friday, reaching $15.3510. The company's stock had a trading volume of 708,814 shares, compared to its average volume of 2,430,255. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 30.10 and a beta of 2.72. The business's fifty day moving average price is $12.93 and its 200 day moving average price is $9.04. Porch Group has a twelve month low of $1.15 and a twelve month high of $17.38.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, topping 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 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. As a group, equities analysts forecast that Porch Group will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Alan R. Pickerill sold 40,000 shares of Porch Group stock in a transaction dated 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 approximately $2,054,004.16. The trade was a 17.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lam sold 25,000 shares of Porch Group stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $15.21, for a total value of $380,250.00. Following the completion of the sale, the director owned 177,991 shares in the company, valued at approximately $2,707,243.11. The trade was a 12.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $2,032,700 in the last 90 days. 23.32% of the stock is currently owned by company insiders.

Institutional Trading of Porch Group

Several institutional investors have recently made changes to their positions in PRCH. Rhumbline Advisers raised its position in Porch Group by 28.7% in the first quarter. Rhumbline Advisers now owns 99,436 shares of the company's stock valued at $725,000 after purchasing an additional 22,159 shares during the period. GAMMA Investing LLC grew its stake in shares of Porch Group by 801.6% in the first quarter. GAMMA Investing LLC now owns 91,285 shares of the company's stock worth $665,000 after acquiring an additional 81,160 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Porch Group in the fourth quarter worth $51,000. JPMorgan Chase & Co. grew its stake in shares of Porch Group by 225.1% in the fourth quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock worth $3,593,000 after acquiring an additional 505,660 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Porch Group by 91.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after acquiring an additional 5,273 shares in the last quarter. Hedge funds and other 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.