Porch Group (NASDAQ:PRCH) Given New $3.50 Price Target at Oppenheimer

Porch Group (NASDAQ:PRCH) had its price objective decreased by Oppenheimer from $4.50 to $3.50 in a research report released on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

PRCH has been the topic of a number of other reports. Keefe, Bruyette & Woods restated a market perform rating and issued a $3.75 price objective on shares of Porch Group in a research note on Tuesday, July 2nd. Craig Hallum lowered their price target on shares of Porch Group from $5.00 to $3.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Stephens restated an overweight rating and set a $6.00 price target on shares of Porch Group in a research note on Thursday, April 11th. Northland Securities reduced their price objective on shares of Porch Group from $5.00 to $3.25 and set an outperform rating for the company in a research note on Wednesday, August 7th. Finally, Benchmark lowered 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Porch Group presently has a consensus rating of Moderate Buy and a consensus price target of $4.18.

Porch Group Stock Up 16.9 %

Porch Group stock opened at $1.28 on Thursday. The firm has a 50 day moving average price of $1.77 and a 200-day moving average price of $2.68. Porch Group has a twelve month low of $0.50 and a twelve month high of $4.78. The company has a market capitalization of $126.96 million, a P/E ratio of -1.12 and a beta of 2.06.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data 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 business had revenue of $110.84 million during the quarter, compared to analyst estimates of $117.91 million. During the same period last year, the business posted ($0.73) earnings per share. Equities analysts expect that Porch Group will post -0.65 EPS for the current fiscal year.

Insider Activity

In related news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $2.02, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Porch Group

Several large investors have recently added to or reduced their stakes in PRCH. Alpine Global Management LLC purchased a new stake in shares of Porch Group in the 1st quarter valued at about $43,000. Victory Capital Management Inc. bought a new stake in Porch Group during the fourth quarter valued at approximately $32,000. Cape Investment Advisory Inc. purchased a new position in Porch Group in the 4th quarter worth approximately $39,000. SG Americas Securities LLC bought a new position in shares of Porch Group in the 4th quarter worth $53,000. Finally, Bayesian Capital Management LP bought a new position in shares of Porch Group in the 1st quarter worth $80,000. Institutional investors own 48.48% of the company’s stock.

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.