Porch Group (NASDAQ:PRCH) Given New $8.00 Price Target at Oppenheimer

Porch Group (NASDAQ:PRCH) had its price target hoisted by stock analysts at Oppenheimer from $7.00 to $8.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 39.23% from the company’s current price.

PRCH has been the topic of a number of other reports. Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Wednesday. Benchmark raised their target price on shares of Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Craig Hallum raised their target price on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Stephens raised their price objective on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Porch Group presently has an average rating of “Buy” and an average price target of $5.84.

Porch Group Price Performance

Shares of PRCH stock traded up $1.96 during trading on Wednesday, hitting $5.75. 8,993,194 shares of the stock traded hands, compared to its average volume of 1,363,600. The firm has a market capitalization of $686.90 million, a P/E ratio of -7.87 and a beta of 2.03. Porch Group has a 52-week low of $1.05 and a 52-week high of $6.03. The firm’s fifty day moving average price is $4.74 and its 200-day moving average price is $3.16.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the 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 transaction, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at $1,727,034. This represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Porch Group

Institutional investors have recently modified their holdings of the business. Zacks Investment Management bought a new position in shares of Porch Group in the 3rd quarter worth about $32,000. Nisa Investment Advisors LLC boosted its stake in Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after acquiring an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Porch Group during the 4th quarter valued at approximately $35,000. Caprock Group LLC purchased a new position in Porch Group during the 3rd quarter valued at about $37,000. Finally, SG Americas Securities LLC bought a new stake in shares of Porch Group during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds 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.