Porch Group, Inc. (NASDAQ:PRCH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has received a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.34.

A number of equities research analysts have recently weighed in on PRCH shares. Oppenheimer boosted their price objective on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Benchmark reiterated a “buy” rating and set a $7.00 price target on shares of Porch Group in a research note on Tuesday, October 29th. Craig Hallum raised their price objective on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Loop Capital reiterated a “hold” rating and issued a $6.00 price target on shares of Porch Group in a report on Monday, December 9th.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $4.68 on Friday. Porch Group has a fifty-two week low of $1.05 and a fifty-two week high of $6.03. The company has a market cap of $559.47 million, a PE ratio of -6.69 and a beta of 2.05. The business has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $2.49.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the transaction, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Several institutional investors and hedge funds have recently modified their holdings of PRCH. Susquehanna Fundamental Investments LLC grew its holdings in Porch Group by 34.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock valued at $57,000 after purchasing an additional 9,626 shares during the period. GAMMA Investing LLC purchased a new position in shares of Porch Group during the 4th quarter valued at approximately $50,000. Mackenzie Financial Corp grew its stake in Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after acquiring an additional 12,097 shares during the period. AE Wealth Management LLC increased its holdings in Porch Group by 7.5% in the 2nd quarter. AE Wealth Management LLC now owns 241,879 shares of the company’s stock worth $365,000 after acquiring an additional 16,793 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in Porch Group in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.