Analysts Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $5.34

Porch Group, Inc. (NASDAQ:PRCH) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities 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 1 year target price among brokers that have issued ratings on the stock in the last year is $5.34.

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

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of Porch Group 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 5.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.46% of the stock is owned by insiders.

Institutional Trading of Porch Group

A number of hedge funds have recently added to or reduced their stakes in PRCH. Franklin Resources Inc. acquired a new stake in Porch Group during the 3rd quarter worth approximately $238,000. Barclays PLC boosted its position in Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company’s stock valued at $207,000 after purchasing an additional 108,748 shares during the period. Geode Capital Management LLC boosted its position in shares of Porch Group by 8.9% during the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock worth $3,052,000 after buying an additional 163,133 shares during the period. Zacks Investment Management acquired a new stake in Porch Group in the third quarter worth about $32,000. Finally, State Street Corp boosted its stake in Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock valued at $2,560,000 after purchasing an additional 115,176 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Trading Down 0.4 %

NASDAQ:PRCH opened at $5.23 on Tuesday. The stock has a 50 day moving average of $2.84 and a two-hundred day moving average of $2.04. The firm has a market cap of $625.22 million, a P/E ratio of -7.47 and a beta of 2.14. Porch Group has a 12 month low of $1.05 and a 12 month high of $5.70.

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.