Stephens Boosts Porch Group (NASDAQ:PRCH) Price Target to $5.00

Porch Group (NASDAQ:PRCHGet Free Report) had its price target raised by equities researchers at Stephens from $4.00 to $5.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price target indicates a potential upside of 48.37% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Benchmark restated a “buy” rating and issued a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods dropped their target price on Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Oppenheimer reduced their target price on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Craig Hallum increased their price objective on Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Northland Securities lowered their price target on Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Porch Group presently has a consensus rating of “Buy” and an average target price of $4.18.

View Our Latest Analysis on Porch Group

Porch Group Price Performance

NASDAQ:PRCH opened at $3.37 on Monday. Porch Group has a 12 month low of $1.00 and a 12 month high of $4.78. The firm has a market capitalization of $400.26 million, a PE ratio of -4.81 and a beta of 1.98. The business’s 50-day moving average is $1.68 and its two-hundred day moving average is $1.86.

Insider Buying and Selling

In other news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now directly owns 278,298 shares in the company, valued at $556,596. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in Porch Group during the 1st quarter worth about $120,000. Natixis bought a new position in Porch Group during the 1st quarter worth approximately $3,906,000. Lazard Asset Management LLC bought a new stake in Porch Group in the first quarter valued at approximately $525,000. Alpine Global Management LLC bought a new stake in shares of Porch Group in the 1st quarter valued at $43,000. Finally, Bayesian Capital Management LP acquired a new position in Porch Group in the first quarter valued at about $80,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.

Featured Articles

Analyst Recommendations for Porch Group (NASDAQ:PRCH)

Receive News & Ratings for Porch Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Porch Group and related companies with MarketBeat.com's FREE daily email newsletter.