Porch Group, Inc. (NASDAQ:PRCH) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.67.

PRCH has been the topic of several research reports. Stephens reissued an “overweight” rating and set a $6.00 price target on shares of Porch Group in a research report on Thursday, April 11th. Craig Hallum reduced their price target on Porch Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark reduced their price target on shares of Porch Group from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $3.75 target price on shares of Porch Group in a research report on Tuesday, July 2nd. Finally, Northland Securities lowered their price objective on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research note on Wednesday.

Porch Group Stock Down 31.2 %

NASDAQ PRCH traded down $0.54 during mid-day trading on Wednesday, hitting $1.19. The stock had a trading volume of 3,503,360 shares, compared to its average volume of 1,403,536. The company has a 50 day simple moving average of $1.82 and a 200 day simple moving average of $2.71. The company has a market cap of $118.05 million, a price-to-earnings ratio of -1.04 and a beta of 2.06. Porch Group has a 52-week low of $0.50 and a 52-week high of $4.78.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, August 6th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The business had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $117.91 million. During the same period in the prior year, the firm earned ($0.73) earnings per share. As a group, equities analysts anticipate that Porch Group will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $2.02, for a total value of $30,300.00. Following the sale, the chief financial officer now owns 295,142 shares of the company’s stock, valued at approximately $596,186.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Institutional investors have recently bought and sold shares of the business. Alpine Global Management LLC acquired a new position in Porch Group during the 1st quarter valued at about $43,000. Victory Capital Management Inc. bought a new position in shares of Porch Group during the 4th quarter worth approximately $32,000. Cape Investment Advisory Inc. acquired a new position in Porch Group during the fourth quarter worth $39,000. SG Americas Securities LLC acquired a new position in shares of Porch Group during the 4th quarter worth about $53,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Porch Group during the 1st quarter worth approximately $80,000. 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.