PRCH - Porch Group: Insurance Margin Expansion To Drive Upside Potential
2024-05-27 05:00:02 ET
Summary
- PRCH stock has seen strong price appreciation, up over 62% since initial coverage, but YTD performance has been underwhelming.
- The insurance segment is PRCH's largest and fastest-growing business, and improvements in this segment could positively affect share performance.
- PRCH's Q1 results showed positive trends in insurance metrics, and the company's data advantages could unlock more upside in the insurance business.
It has been almost a year since my first coverage of Porch Group (PRCH), a company developing vertical software platforms and services to home service industries. I rated the stock neutral at the time, and with the stock currently trading at $2.3, up over 62% since my first coverage, it appears that I might have underestimated PRCH....
Porch Group: Insurance Margin Expansion To Drive Upside Potential