Craig Hallum Trims Porch Group (NASDAQ:PRCH) Target Price to $3.00

Porch Group (NASDAQ:PRCH) had its target price cut by Craig Hallum from $5.00 to $3.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods reiterated a market perform rating and set a $3.75 price target on shares of Porch Group in a report on Tuesday, July 2nd. Stephens reissued an overweight rating and issued a $6.00 price target on shares of Porch Group in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Porch Group presently has an average rating of Moderate Buy and a consensus price target of $4.18.

Porch Group Trading Up 16.9 %

PRCH traded up $0.19 during trading on Wednesday, reaching $1.28. 1,348,970 shares of the company were exchanged, compared to its average volume of 1,021,444. The stock has a market cap of $126.96 million, a P/E ratio of -1.12 and a beta of 2.06. The firm has a 50 day moving average of $1.77 and a 200 day moving average of $2.68. Porch Group has a 52 week low of $0.50 and a 52 week high of $4.78.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The firm had revenue of $110.84 million for the quarter, compared to the consensus estimate of $117.91 million. During the same period last year, the business posted ($0.73) EPS. As a group, analysts forecast that Porch Group will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were 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 legal filing with the SEC, which can be accessed through this hyperlink. 23.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Several institutional investors have recently modified their holdings of PRCH. Victory Capital Management Inc. acquired a new position in shares of Porch Group in the 4th quarter valued at $32,000. Cape Investment Advisory Inc. bought a new position in Porch Group during the fourth quarter worth about $39,000. Alpine Global Management LLC bought a new position in Porch Group during the first quarter worth about $43,000. SG Americas Securities LLC acquired a new position in shares of Porch Group during the 4th quarter worth about $53,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Porch Group in the 1st quarter valued at about $80,000. 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.