Porch Group, Inc. (NASDAQ:PRCH – Free Report) shares have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One equities analyst has rated the stock with a Hold rating and six have assigned the company a Buy rating. The average 1-year price target among the brokerages that have updated their coverage on the stock in the last year is $4.18.
Several equities analysts have recently commented on PRCH shares. Craig Hallum lowered his price target on shares of Porch Group from $5.00 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer lowered his price target on shares of Porch Group from $4.50 to $3.50 and gave the stock an “outperform” rating in a research report on Thursday. Benchmark lowered its price target on shares of Porch Group from $10.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday. Northland Securities lowered its price target on shares of Porch Group from $5.00 to $3.25 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods cut their price target on shares of Porch Group from $3.75 to $1.50 and gave the stock a “market perform” rating in a research note on Thursday.
Read our latest stock analysis on Porch Group
Porch Group shares rise 16.9%
PRCH shares opened at $1.28 on Wednesday. Porch Group has a 52-week low of $0.50 and a 52-week high of $4.78. The company has a 50-day moving average of $1.77 and a 200-day moving average of $2.68. The stock has a market cap of $126.96 million, a price-to-earnings ratio of -1.12 and a beta of 2.06.
Porch Group (NASDAQ:PRCH – Get Free Report) last announced its earnings results on Tuesday, August 6. The company reported earnings per share (EPS) of -$0.65 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 the consensus estimate of $117.91 million. During the same quarter last year, the company posted earnings per share of -$0.73. On average, equities analysts expect that Porch Group will post earnings per share of -$0.65 for the current fiscal year.
Insiders place their bets
In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6. The shares were sold at an average price of $2.02, for a total value of $30,300.00. Following the transaction, the chief financial officer now directly owns 295,142 shares of the company’s stock, valued at $596,186.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.46% of the company’s stock.
Porch Group Institutional Trading
Hedge funds and other institutional investors have recently made changes to their positions in the company. Granahan Investment Management LLC increased its holdings in shares of Porch Group by 12.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock valued at $36,624,000 after purchasing an additional 1,278,208 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Porch Group by 53.8% in the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after purchasing an additional 763,800 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock valued at $2,369,000 after acquiring an additional 1,282,500 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Porch Group in the 2nd quarter valued at about $1,989,000. Finally, Natixis acquired a new stake in Porch Group in the first quarter valued at about $3,906,000. Institutional investors and hedge funds own 48.48% of the company’s stock.
Porch Group Company Profile
(Get free report
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 transaction basis, as well as moving and post-moving services.
See also
Get daily news and reviews for Porch Group – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Porch Group and related companies with MarketBeat.com’s FREE daily email newsletter.
