Porch Group (NASDAQ:PRCH) Price Target Raised to $10.00 at Benchmark

Porch Group (NASDAQ:PRCH) had its target price upped by research analysts at Benchmark from $7.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 49.25% from the stock’s previous close.

A number of other brokerages have also commented on PRCH. Craig Hallum upped their price objective on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday. Stephens increased their price target 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. Finally, Oppenheimer increased their price target 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. One research 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, Porch Group has an average rating of “Buy” and an average price target of $5.84.

Porch Group Stock Performance

Shares of PRCH opened at $6.70 on Wednesday. The company has a 50-day simple moving average of $4.82 and a 200-day simple moving average of $3.21. The firm has a market capitalization of $800.94 million, a P/E ratio of -9.57 and a beta of 2.03. Porch Group has a 52 week low of $1.05 and a 52 week high of $7.19.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the sale, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.46% of the company’s stock.

Institutional Trading of Porch Group

Several large investors have recently added to or reduced their stakes in PRCH. SG Americas Securities LLC bought a new stake in Porch Group during the third quarter worth about $42,000. Harbor Capital Advisors Inc. boosted its stake in Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after acquiring an additional 2,457,915 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Porch Group in the third quarter valued at approximately $46,000. GSA Capital Partners LLP boosted its stake in Porch Group by 223.4% in the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after acquiring an additional 1,058,653 shares during the last quarter. Finally, Caprock Group LLC bought a new position in Porch Group in the third quarter valued at approximately $37,000. 48.48% of the stock is owned by institutional investors.

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.