Porch Group (NASDAQ:PRCH) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH)‘s stock had its “market perform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a report released on Tuesday, Benzinga reports. They presently have a $3.75 price target on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 118.66% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald raised their price target on Porch Group from $3.00 to $5.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Stephens restated an “overweight” rating and set a $6.00 price target on shares of Porch Group in a report on Thursday, April 11th.

Porch Group Trading Up 0.9 %

NASDAQ:PRCH opened at $1.72 on Tuesday. Porch Group has a 12-month low of $0.50 and a 12-month high of $4.78. The stock has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.86. The stock has a market capitalization of $170.11 million, a P/E ratio of -1.50 and a beta of 2.06.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.12. The business had revenue of $115.44 million for the quarter, compared to analysts’ expectations of $102.60 million. On average, research analysts predict that Porch Group will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $2.02, for a total value of $30,300.00. Following the completion of the transaction, the chief financial officer now owns 295,142 shares in the company, valued at approximately $596,186.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 23.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC purchased a new position in shares of Porch Group in the 1st quarter worth approximately $43,000. Victory Capital Management Inc. bought a new stake in shares of Porch Group during the 4th quarter worth approximately $32,000. Cape Investment Advisory Inc. bought a new stake in shares of Porch Group during the 4th quarter worth approximately $39,000. Acadian Asset Management LLC lifted its stake in shares of Porch Group by 28.1% during the 3rd quarter. Acadian Asset Management LLC now owns 68,870 shares of the company’s stock worth $54,000 after acquiring an additional 15,101 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Porch Group during the 4th quarter worth approximately $53,000. 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.