Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) has been assigned an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.18.
A number of research firms have recently commented on PRCH. Northland Securities cut their price target on Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Benchmark reduced their price target on Porch Group from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald upgraded Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods reduced their price target on Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Oppenheimer reduced their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th.
Check Out Our Latest Research Report on Porch Group
Insider Buying and Selling
Hedge Funds Weigh In On Porch Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in shares of Porch Group in the 4th quarter worth about $32,000. Mackenzie Financial Corp boosted its holdings in shares of Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock worth $36,000 after purchasing an additional 12,097 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Porch Group in the 4th quarter worth about $39,000. Alpine Global Management LLC purchased a new position in shares of Porch Group in the 1st quarter worth about $43,000. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in shares of Porch Group by 34.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock worth $57,000 after purchasing an additional 9,626 shares in the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.
Porch Group Stock Performance
PRCH opened at $1.27 on Friday. The firm has a market cap of $125.97 million, a P/E ratio of -1.11 and a beta of 2.06. The firm has a 50-day moving average of $1.62 and a 200 day moving average of $2.54. Porch Group has a fifty-two week low of $0.50 and a fifty-two week high of $4.78.
Porch Group (NASDAQ:PRCH – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The firm had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $117.91 million. During the same period last year, the firm earned ($0.73) EPS. Equities research analysts predict that Porch Group will post -0.67 earnings per share for the current fiscal year.
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.
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