Fintel reports that on August 10, 2023, Keefe, Bruyette & Woods maintained coverage of Porch Group Inc - (NASDAQ:PRCH) with a Market Perform recommendation.
Analyst Price Forecast Suggests 351.84% Upside
As of August 2, 2023, the average one-year price target for Porch Group Inc - is 5.15. The forecasts range from a low of 1.41 to a high of $14.70. The average price target represents an increase of 351.84% from its latest reported closing price of 1.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Porch Group Inc - is 341MM, an increase of 3.97%. The projected annual non-GAAP EPS is -0.79.
What is the Fund Sentiment?
There are 215 funds or institutions reporting positions in Porch Group Inc -. This is a decrease of 27 owner(s) or 11.16% in the last quarter. Average portfolio weight of all funds dedicated to PRCH is 0.11%, a decrease of 62.06%. Total shares owned by institutions decreased in the last three months by 10.68% to 73,304K shares. 
The put/call ratio of PRCH is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
Granahan Investment Management holds 12,591K shares representing 12.87% ownership of the company. In it's prior filing, the firm reported owning 13,379K shares, representing a decrease of 6.26%. The firm decreased its portfolio allocation in PRCH by 28.76% over the last quarter.
Park West Asset Management holds 12,268K shares representing 12.54% ownership of the company. In it's prior filing, the firm reported owning 5,449K shares, representing an increase of 55.58%. The firm increased its portfolio allocation in PRCH by 56.34% over the last quarter.
Villere St Denis J & Co holds 5,624K shares representing 5.75% ownership of the company. In it's prior filing, the firm reported owning 5,715K shares, representing a decrease of 1.62%. The firm decreased its portfolio allocation in PRCH by 5.49% over the last quarter.
Falcon Edge Capital holds 2,837K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 2,710K shares, representing an increase of 4.50%. The firm increased its portfolio allocation in PRCH by 60.98% over the last quarter.
JNL SERIES TRUST - JNL Multi-Manager Small Cap Growth Fund holds 2,765K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 2,899K shares, representing a decrease of 4.85%. The firm decreased its portfolio allocation in PRCH by 31.74% over the last quarter.
Porch Group Background Information
(This description is provided by the company.)
Seattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 10,500 home services companies such as home inspectors, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, moving, security, TV/internet, home repair and improvement, and more.
Additional reading:
- Porch Group Reports Second Quarter 2023 Results $99 Million Revenue, With Growth of 39% Year-Over-Year Operating Results Impacted By Extreme Weather, Otherwise In Line with Management Expectations
- Porch Group announces catastrophic weather events impact for Q2 2023, and will release second quarter 2023 earnings on August 8, 2023
- Porch Group Reports First Quarter 2023 Results $87 Million Revenue, With Growth Of 37% Year-Over-Year. Adjusted EBITDA In Line With Expectations. Insurance Carrier Top Decile 2022 Combined Loss Ratio and Growth Performance.
- Non-Employee Director Compensation Policy.
- Form of Stock Award Agreement under Porch Group, Inc. 2020 Stock Incentive Plan.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
