Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Price Target at $4.18

Porch Group, Inc. (NASDAQ:PRCH) has received an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.18.

PRCH has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Benchmark dropped their target price on shares of Porch Group from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Oppenheimer reduced their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a report on Thursday, August 8th. Craig Hallum lowered their price target on Porch Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods cut their price objective 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.

Institutional Trading of Porch Group

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC increased its position in Porch Group by 34.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock worth $57,000 after buying an additional 9,626 shares during the period. Mackenzie Financial Corp increased its position in Porch Group by 102.4% during the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock worth $36,000 after acquiring an additional 12,097 shares during the period. Squarepoint Ops LLC raised its stake in Porch Group by 356.6% in the 2nd quarter. Squarepoint Ops LLC now owns 189,333 shares of the company’s stock worth $286,000 after purchasing an additional 147,866 shares in the last quarter. Marshall Wace LLP boosted its holdings in Porch Group by 11.8% in the 2nd quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock valued at $3,250,000 after purchasing an additional 226,721 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Porch Group during the 2nd quarter worth approximately $477,000. 48.48% of the stock is currently owned by institutional investors.

Porch Group Trading Down 3.1 %

Shares of PRCH stock opened at $1.24 on Friday. The firm’s fifty day moving average price is $1.61 and its two-hundred day moving average price is $2.50. Porch Group has a 1 year low of $0.50 and a 1 year high of $4.78. The firm has a market capitalization of $122.99 million, a P/E ratio of -1.09 and a beta of 2.04.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The company had revenue of $110.84 million during the quarter, compared to analyst estimates of $117.91 million. During the same quarter in the previous year, the firm earned ($0.73) EPS. As a group, equities research analysts forecast that Porch Group will post -0.67 EPS 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.