Porch Group, Inc. (NASDAQ:PRCH) Receives $4.18 Consensus PT from Brokerages

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat.com 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 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.18.

A number of brokerages recently weighed in on PRCH. Benchmark cut 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 report on Wednesday, August 7th. Keefe, Bruyette & Woods dropped their target price on Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. Craig Hallum decreased their price target on Porch Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer cut their target price on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a report on Thursday, August 8th.

Porch Group Stock Up 2.2 %

Shares of PRCH opened at $1.40 on Thursday. The business’s 50-day moving average price is $1.46 and its 200-day moving average price is $2.27. The stock has a market cap of $166.28 million, a PE ratio of -1.23 and a beta of 2.04. Porch Group has a twelve month low of $0.50 and a twelve month high of $4.78.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same period last year, the firm earned ($0.73) earnings per share. Analysts expect that Porch Group will post -0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PRCH. Victory Capital Management Inc. purchased a new position in Porch Group during the fourth quarter valued at $32,000. Mackenzie Financial Corp boosted its stake in 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 stake in Porch Group during the 4th quarter valued at about $39,000. Alpine Global Management LLC bought a new stake in Porch Group during the 1st quarter valued at about $43,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in Porch Group by 34.5% in the second 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 last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.