Porch Group (NASDAQ:PRCH) Trading 6.7% Higher – Should You Buy?

Porch Group, Inc. (NASDAQ:PRCH) rose 6.7% during mid-day trading on Monday . The stock traded as high as $4.63 and last traded at $4.75. Approximately 331,474 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,089,829 shares. The stock had previously closed at $4.45.

Analysts Set New Price Targets

PRCH has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and set a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Craig Hallum boosted their price target on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 6th. Loop Capital restated a “hold” rating and set a $6.00 price target on shares of Porch Group in a research report on Monday, December 9th. Finally, Oppenheimer upped their price objective on shares of Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.34.

Porch Group Stock Performance

The business has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $2.82. The stock has a market cap of $515.82 million, a price-to-earnings ratio of -6.16 and a beta of 2.03.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $111.20 million during the quarter. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, equities research analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling at Porch Group

In related 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 value of $130,644.00. Following the transaction, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.46% of the stock is owned by corporate insiders.

Institutional Trading of Porch Group

Several institutional investors have recently modified their holdings of PRCH. Nisa Investment Advisors LLC grew its holdings in shares of 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 during the last quarter. Rik Saylor Financial Inc. acquired a new stake in shares of Porch Group during the 4th quarter worth approximately $49,000. GAMMA Investing LLC acquired a new stake in Porch Group during the 4th quarter worth $50,000. Zacks Investment Management bought a new stake in Porch Group in the third quarter valued at about $32,000. Finally, Caprock Group LLC bought a new stake in Porch Group in the third quarter valued at approximately $37,000. 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.