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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $5.34.

A number of equities analysts have recently issued reports on PRCH shares. Benchmark restated a “buy” rating and set a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Craig Hallum raised their price target on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Oppenheimer upped their price objective on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Stephens lifted their target price 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. Finally, Loop Capital reaffirmed a “hold” rating and set a $6.00 price target on shares of Porch Group in a research report on Monday, December 9th.

Porch Group Stock Down 3.6 %

Shares of NASDAQ:PRCH opened at $4.51 on Friday. The firm has a market cap of $539.14 million, a P/E ratio of -6.44 and a beta of 2.05. Porch Group has a 12-month low of $1.05 and a 12-month high of $6.03. The business has a fifty day simple moving average of $4.33 and a 200 day simple moving average of $2.53.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the sale, the chief financial officer now owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

A number of institutional investors have recently modified their holdings of PRCH. GAMMA Investing LLC bought a new stake in Porch Group during the 4th quarter valued at $50,000. Zacks Investment Management acquired a new position in shares of Porch Group during the third quarter valued at about $32,000. Caprock Group LLC bought a new stake in shares of Porch Group during the third quarter worth about $37,000. Mackenzie Financial Corp raised its holdings in shares of 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 acquiring an additional 12,097 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Porch Group in the 3rd quarter valued at about $42,000. 48.48% of the stock is owned by institutional investors and hedge funds.

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.