Analysts Set Porch Group, Inc. (NASDAQ:PRCH) Target Price at $5.34

Porch Group, Inc. (NASDAQ:PRCH) has received an average rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $5.84.

Several research firms have recently issued reports on PRCH. Stephens lifted their price target on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Oppenheimer boosted their target price on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday. Craig Hallum upped their price target on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Benchmark upped their price target on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday.

Insider Activity

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

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Zacks Investment Management bought a new stake in shares of Porch Group during the third quarter valued at about $32,000. Nisa Investment Advisors LLC increased its stake in Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after purchasing an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Porch Group in the 4th quarter worth about $35,000. Caprock Group LLC purchased a new position in Porch Group during the 3rd quarter valued at about $37,000. Finally, SG Americas Securities LLC purchased a new position in Porch Group during the 3rd quarter valued at about $42,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $6.70 on Friday. The firm has a market capitalization of $800.94 million, a P/E ratio of -9.57 and a beta of 2.03. Porch Group has a one year low of $1.05 and a one year high of $7.19. The company’s fifty day moving average is $4.82 and its two-hundred day moving average is $3.21.

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.