Benchmark Increases Porch Group (NASDAQ:PRCH) Price Target to $10.00

Porch Group (NASDAQ:PRCH) had its price objective upped by equities research analysts at Benchmark from $7.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 49.25% from the company’s previous close.

Several other research analysts have also issued reports on PRCH. Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Wednesday. Craig Hallum lifted their price target on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer lifted their price target on shares of Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Stephens raised their price objective on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Porch Group currently has a consensus rating of “Buy” and an average target price of $5.84.

Porch Group Stock Performance

Porch Group stock opened at $6.70 on Wednesday. The firm has a market cap of $800.94 million, a price-to-earnings ratio of -9.57 and a beta of 2.03. Porch Group has a 1 year low of $1.05 and a 1 year high of $7.19. The firm’s 50 day moving average price is $4.82 and its two-hundred day moving average price is $3.21.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the transaction, the chief financial officer now directly owns 287,839 shares in the company, valued at $1,727,034. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings in shares of Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after acquiring an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Porch Group during the 4th quarter valued at $35,000. Rik Saylor Financial Inc. purchased a new position in shares of Porch Group during the 4th quarter valued at $49,000. Raymond James Financial Inc. purchased a new position in shares of Porch Group during the 4th quarter valued at $50,000. Finally, GAMMA Investing LLC purchased a new position in shares of Porch Group during the 4th quarter valued at $50,000. 48.48% of the stock is currently 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.