Porch Group (NASDAQ:PRCH) Price Target Raised to $8.00

Porch Group (NASDAQ:PRCH) had its price target raised by research analysts at Oppenheimer from $7.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 19.40% from the stock’s current price.

PRCH has been the subject of several other reports. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Craig Hallum lifted their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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 research note on Wednesday. Finally, Benchmark lifted their target price on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $5.84.

Porch Group Stock Up 1.5 %

PRCH stock opened at $6.70 on Wednesday. The business has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $3.21. The company has a market cap of $800.94 million, a price-to-earnings ratio of -9.57 and a beta of 2.03. Porch Group has a twelve month low of $1.05 and a twelve month high of $7.19.

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 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 owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

A number of institutional investors have recently modified their holdings of PRCH. Nisa Investment Advisors LLC grew its position in Porch Group by 5,776.1% during the 4th 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 about $35,000. Rik Saylor Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter valued at about $49,000. Raymond James Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter valued at about $50,000. Finally, GAMMA Investing LLC bought a new stake in shares of Porch Group in the 4th quarter valued at about $50,000. Institutional investors and hedge funds 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.