Porch Group (NASDAQ:PRCH) Earns Market Perform Rating from Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $3.75 price objective on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 141.94% from the stock’s previous close.

Several other brokerages also recently commented on PRCH. Cantor Fitzgerald lifted their target price on shares of Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Stephens reissued an “overweight” rating and issued a $6.00 price objective on shares of Porch Group in a report on Thursday, April 11th.

Porch Group Price Performance

PRCH traded up $0.04 during mid-day trading on Tuesday, hitting $1.55. The stock had a trading volume of 306,905 shares, compared to its average volume of 1,448,787. The stock’s fifty day simple moving average is $2.37 and its 200-day simple moving average is $2.87. The firm has a market capitalization of $153.74 million, a price-to-earnings ratio of -1.39 and a beta of 2.06. Porch Group has a 1-year low of $0.50 and a 1-year high of $4.78.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.12. The company had revenue of $115.44 million for the quarter, compared to analyst estimates of $102.60 million. As a group, research analysts expect that Porch Group will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $2.02, for a total transaction of $30,300.00. Following the sale, the chief financial officer now directly owns 295,142 shares of the company’s stock, valued at approximately $596,186.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in Porch Group by 28.1% in the third quarter. Acadian Asset Management LLC now owns 68,870 shares of the company’s stock valued at $54,000 after purchasing an additional 15,101 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Porch Group by 128.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,590 shares of the company’s stock valued at $83,000 after acquiring an additional 58,249 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Porch Group by 62.1% during the fourth quarter. Moody National Bank Trust Division now owns 317,377 shares of the company’s stock valued at $978,000 after acquiring an additional 121,629 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Porch Group during the fourth quarter worth approximately $53,000. Finally, Capital Advisors Inc. OK bought a new position in shares of Porch Group in the 4th quarter worth $232,000. 48.48% of the stock is owned by institutional investors.

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.