Porch Group (NASDAQ:PRCH) PT Lowered to $3.25

Porch Group (NASDAQ:PRCH) had its price target lowered by research analysts at Northland Securities from $5.00 to $3.25 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective indicates a potential upside of 175.42% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $3.75 price target on shares of Porch Group in a research note on Tuesday, July 2nd. Stephens reiterated an “overweight” rating and set a $6.00 target price on shares of Porch Group in a research report on Thursday, April 11th. Finally, Craig Hallum reduced their price target on Porch Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.18.

Porch Group Stock Up 7.8 %

NASDAQ:PRCH traded up $0.09 during trading hours on Wednesday, hitting $1.18. 46,574 shares of the stock were exchanged, compared to its average volume of 1,397,502. The company has a market capitalization of $117.04 million, a P/E ratio of -0.96 and a beta of 2.06. The company’s 50 day moving average is $1.78 and its two-hundred day moving average is $2.69. Porch Group has a twelve month low of $0.50 and a twelve month high of $4.78.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same period in the prior year, the firm posted ($0.73) EPS. On average, equities research analysts expect that Porch Group will post -0.65 EPS for the current year.

Insider Activity

In related news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $2.02, for a total transaction of $30,300.00. Following the sale, the chief financial officer now owns 295,142 shares of the company’s stock, valued at approximately $596,186.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of PRCH. Alpine Global Management LLC bought a new stake in Porch Group during the 1st quarter worth approximately $43,000. Victory Capital Management Inc. acquired a new position in shares of Porch Group in the fourth quarter valued at approximately $32,000. Cape Investment Advisory Inc. bought a new stake in Porch Group in the 4th quarter valued at $39,000. SG Americas Securities LLC bought a new stake in Porch Group in the 4th quarter valued at $53,000. Finally, Bayesian Capital Management LP acquired a new position in Porch Group in the 1st quarter worth $80,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.