Porch Group (NASDAQ:PRCH) Stock Price Expected to Rise, Benchmark Analyst Says

Porch Group (NASDAQ:PRCH) had its price objective raised by equities research analysts at Benchmark from $7.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 77.02% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday. Stephens upped their target price on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Craig Hallum lifted their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Oppenheimer increased their price objective on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.72.

Porch Group Price Performance

Shares of NASDAQ:PRCH traded up $1.86 during trading on Wednesday, hitting $5.65. 3,627,856 shares of the company’s stock were exchanged, compared to its average volume of 1,227,099. The business’s 50-day simple moving average is $4.74 and its 200 day simple moving average is $3.16. The company has a market cap of $675.30 million, a price-to-earnings ratio of -8.07 and a beta of 2.03. Porch Group has a 52-week low of $1.05 and a 52-week high of $6.03.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the sale, the chief financial officer now directly owns 287,839 shares in the company, valued at $1,727,034. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 23.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after acquiring an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Porch Group in the 4th quarter valued at approximately $35,000. Rik Saylor Financial Inc. purchased a new position in shares of Porch Group in the 4th quarter worth approximately $49,000. Raymond James Financial Inc. bought a new position in shares of Porch Group during the 4th quarter valued at approximately $50,000. Finally, GAMMA Investing LLC purchased a new stake in Porch Group during the 4th quarter valued at $50,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

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.