Porch Group, Inc. operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services. It also connects consumers with home services companies and offers a full range of products and services where homeowners compare and buy home insurance policies; arrange for various services in connection with their move, from labor to load or unload a truck to full-service, long-distance moving services; discover and install home automation and security systems; compare internet and television options for their home; book small handyman jobs at fixed, upfront prices; and compare bids from home improvement professionals who can complete bigger jobs. In addition, the company provides property and casualty, home, auto, flood, and umbrella insurance products; and contractor services. The company was founded in 2011 and is based in Seattle, Washington.
IPO Year: 2020
Exchange: NASDAQ
Website: porchgroup.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/15/2023 | $4.00 → $2.00 | Buy → Hold | Loop Capital |
| 11/9/2022 | Overweight → Neutral | JP Morgan | |
| 8/10/2022 | $10.00 → $8.00 | Overweight | Cantor Fitzgerald |
| 7/25/2022 | $5.25 → $3.25 | Outperform → Mkt Perform | Keefe Bruyette |
| 5/25/2022 | $11.50 | Buy | Compass Point |
| 5/23/2022 | $8.00 | Overweight | JP Morgan |
| 3/10/2022 | $26.00 → $23.00 | Overweight | Stephens & Co. |
| 3/2/2022 | $16.00 → $22.00 | Buy | Loop Capital |
| 3/2/2022 | $30.00 → $25.00 | Outperform | Northland Capital |
| 3/2/2022 | $30.00 → $25.00 | Buy | Guggenheim |
10-Q - Porch Group, Inc. (0001784535) (Filer)
8-K - Porch Group, Inc. (0001784535) (Filer)
8-K - Porch Group, Inc. (0001784535) (Filer)
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10-Q - Porch Group, Inc. (0001784535) (Filer)
8-K - Porch Group, Inc. (0001784535) (Filer)
8-K - Porch Group, Inc. (0001784535) (Filer)
EFFECT - Porch Group, Inc. (0001784535) (Filer)
10-Q - Porch Group, Inc. (0001784535) (Filer)
Porch Group, Inc. ("Porch") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will host an Investor Day on Thursday, December 5, 2024 starting at 9am Eastern in New York City and virtual. At the Investor Day, Management will provide insight into Porch's forward looking financial targets, economic model post-reciprocal launch, and details on a variety of businesses. Attendance and Webcast Information In-person attendance is by invitation only and advance registration is required. All are invited to listen to the live webcast or replay of the Investor Day which will be accessible on the Porch website events page. For additional information, ple
Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced Porch Group Media ("PGM"), the data and marketing subsidiary of Porch, has signed an agreement to license non-exclusively its unique Home Factors insights to California-based insurance MGA, Bamboo Ide8 Insurance Services, LLC. ("Bamboo"). This agreement follows the recent announcement of Home Factors' official third-party launch in the market. Porch Group Media has Home Factors for approximately 90% of US homes, providing unique and valuable insights not previously available. For example, identifying that an electric panel needs repair indicates 41% higher cla
Porch Group, Inc. ("Porch") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced its upcoming investor event attendance. Porch Management will be attending and participating in one-on-one and group investor meetings at these upcoming events: November 13, 2024: KBW Fintech Conference (New York) November 19, 2024: Stephens Annual Investment Conference* (Nashville) November 19, 2024: Craig-Hallum Alpha Select Conference (New York) December 11, 2024: Benchmark Annual Discovery One-on-One Investor Conference (New York) These investor events and future events can be found on our website here. * Indicates webcast available on the events page. Abo
Application for Reciprocal Exchange Approved Strong Operational Performance Delivers Record Profitability Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported third quarter results through September 30, 2024, with total revenue of $111.2 million. GAAP net income was $14.4 million, an improvement of $20.1 million compared to the prior year, and Adjusted EBITDA was $16.9 million, an improvement of $8.1 million compared to the prior year. CEO Summary "We are excited by today's update: the important approval of the Reciprocal Exchange formation, record profitability, and de-leveraging. The Reciprocal approval
Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced the Texas Department of Insurance ("TDI") has approved its application to form and license Porch Insurance Reciprocal Exchange, a new homeowners insurance reciprocal exchange ("the Reciprocal" or "PIRE"). Forming PIRE is a key step in Porch's strategy to increase profitability and stabilize earnings in its go-forward Insurance reporting segment by reducing direct exposure to claims and weather risks. A reciprocal insurer is owned by its policyholders, much like how Farmers Insurance and Erie Insurance operate. Porch will be the operator (also known as the attor
Investor Day Will Be Scheduled In Early December, 2024 Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the third quarter ended September 30, 2024, after markets close on Thursday, November 7, 2024 and plans to host an Investor Day in early December. Q3'24 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Thursday, November 7, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website, along with
The Moderne team has a 16-year track record generating top tier returns with its novel approach to venture investing: bringing customers to companies Moderne Ventures, a generalist venture capital and growth equity firm with vertical specialties spanning multi trillion-dollar industries of real estate, finance, insurance and sustainability today announced it has raised over $230 million for MV Core Fund III, exceeding the oversubscribed $200M MV Core Fund II and bringing the firm's total assets under management to more than $500M. Notable institutional investors include GCM Grosvenor and the Illinois Growth and Innovation Fund, and some of the world's largest strategic partners like Avalon
Porch Group, Inc. ("Porch") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced its upcoming investor event attendance. Porch Management will be attending and participating in one-on-one and group investor meetings at these upcoming events: August 15, 2024: Craig-Hallum Non-Deal Roadshow (virtual) August 26, 2024: Stephens Non-Deal Roadshow (virtual) September 5, 2024: Benchmark Tech, Media & Telecom Conference (New York) These investor events and future events can be found on our website here. About Porch Group Porch is a homeowners insurance and vertical software platform. Porch's strategy to win in homeowners insurance is to leverage un
Solid performance in the second quarter Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported second quarter results through June 30, 2024, with total revenue of $110.8 million, which increased 12% compared to the prior year. GAAP net loss was $64.3 million, an improvement of $22.6 million compared to the prior year, and Adjusted EBITDA Loss was $34.8 million, an improvement of $8.4 million compared to the prior year. CEO Summary "The team delivered a solid performance this quarter. Despite a May hurricane-like event in Houston with 100 miles per hour sustained winds that caused catastrophic weather clai
Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it has filed a new and updated application to form and license a Texas reciprocal insurance exchange ("Reciprocal") with the Texas Department of Insurance ("TDI"). If approved and fully implemented as proposed, Homeowners of America Insurance Company ("HOA"), Porch's homeowners insurance carrier, would be sold to the Reciprocal at inception resulting in all premiums, policies, and insurance underwriting being conducted through the Reciprocal1. The formation of the Reciprocal is an important step in Porch's long-term strategy to reduce its exposure to earnings
Application for Reciprocal Exchange Approved Strong Operational Performance Delivers Record Profitability Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported third quarter results through September 30, 2024, with total revenue of $111.2 million. GAAP net income was $14.4 million, an improvement of $20.1 million compared to the prior year, and Adjusted EBITDA was $16.9 million, an improvement of $8.1 million compared to the prior year. CEO Summary "We are excited by today's update: the important approval of the Reciprocal Exchange formation, record profitability, and de-leveraging. The Reciprocal approval
Investor Day Will Be Scheduled In Early December, 2024 Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the third quarter ended September 30, 2024, after markets close on Thursday, November 7, 2024 and plans to host an Investor Day in early December. Q3'24 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Thursday, November 7, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website, along with
Solid performance in the second quarter Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported second quarter results through June 30, 2024, with total revenue of $110.8 million, which increased 12% compared to the prior year. GAAP net loss was $64.3 million, an improvement of $22.6 million compared to the prior year, and Adjusted EBITDA Loss was $34.8 million, an improvement of $8.4 million compared to the prior year. CEO Summary "The team delivered a solid performance this quarter. Despite a May hurricane-like event in Houston with 100 miles per hour sustained winds that caused catastrophic weather clai
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the second quarter ended June 30, 2024, after markets close on Tuesday, August 6, 2024. Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, August 6, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website, along with a press release and other supplemental financial information. All are invited to listen to the event by registering for the webin
Strong operating execution in Q1, increasing full year Adjusted EBITDA Guidance Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported first quarter results through March 31, 2024, with total revenue of $115.4 million, which increased 32% compared to the prior year. GAAP net loss was $13.4 million, an improvement of $25.4 million compared to the prior year, and Adjusted EBITDA Loss was $16.8 million, an improvement of $5.1 million compared to the prior year. CEO Summary "We are pleased with the results we delivered in the first quarter, with revenue growth of 32% and the year-over-year improvement in prof
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the first quarter ended March 31, 2024, after markets close on Wednesday, May 8, 2024. Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Wednesday, May 8, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website along with a press release and other supplemental financial information. All are invited to listen to the event by registering for the webinar
Porch Delivers Strong Fourth Quarter Earnings, Ahead of Expectations Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported fourth quarter results ended December 31, 2023, with total revenue of $114.6 million, which increased 79% compared to the prior year. GAAP net loss of $2.5 million, an improvement from $35.5 million GAAP net loss in the prior year and Adjusted EBITDA of $11.7 million, which increased $25.0 million compared to the prior year. CEO Summary "We are excited to share our financial results, far exceeding the second half profitability target we provided around two years ago, with Adjusted EB
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced it will report fourth quarter financial results ended December 31, 2023, after markets close on Thursday, March 7, 2024. The business performed well in the fourth quarter, with 2023 Revenue and Adjusted EBITDA expected to be ahead of guidance1. Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Thursday, March 7, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the co
Porch Delivers Q3 Adjusted EBITDA of $8.8 million GAAP net loss of $(5.7) million Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today reported third quarter results for the Company as of September 30, 2023, with total revenue of $129.6 million, which increased 67% compared to the prior year, and Adjusted EBITDA of $8.8 million, which increased $19.7 million compared to the prior year. GAAP net loss of $(5.7) million, compared to $(84.5) million in the prior year. CEO Summary "We are pleased to share our financial results with positive Adjusted EBITDA of $8.8 million. In Marc
SEATTLE, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today announces it will report third quarter financial results ended September 30, 2023, after markets close on Tuesday, November 7, 2023. Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, November 7, 2023, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website along with a press release and other supplemental financial
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Loop Capital downgraded Porch Group from Buy to Hold and set a new price target of $2.00 from $4.00 previously
JP Morgan downgraded Porch Group from Overweight to Neutral
Cantor Fitzgerald resumed coverage of Porch Group with a rating of Overweight and set a new price target of $8.00 from $10.00 previously
Keefe Bruyette downgraded Porch Group from Outperform to Mkt Perform and set a new price target of $3.25 from $5.25 previously
Compass Point initiated coverage of Porch Group with a rating of Buy and set a new price target of $11.50
JP Morgan initiated coverage of Porch Group with a rating of Overweight and set a new price target of $8.00
Stephens & Co. reiterated coverage of Porch Group with a rating of Overweight and set a new price target of $23.00 from $26.00 previously
Loop Capital reiterated coverage of Porch Group with a rating of Buy and set a new price target of $22.00 from $16.00 previously
Northland Capital reiterated coverage of Porch Group with a rating of Outperform and set a new price target of $25.00 from $30.00 previously
Guggenheim reiterated coverage of Porch Group with a rating of Buy and set a new price target of $25.00 from $30.00 previously
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Keefe, Bruyette & Woods analyst Ryan Tomasello maintains Porch Group (NASDAQ:PRCH) with a Market Perform and maintains $3.75 price target.
Gainers Ambarella (NASDAQ:AMBA) shares rose 15.9% to $56.0 during Thursday's after-market session. The market value of their outstanding shares is at $2.2 billion. As per the news, the Q1 earnings report came out today. Zscaler (NASDAQ:ZS) shares rose 13.87% to $178.39. The market value of their outstanding shares is at $26.7 billion. As per the news, the Q3 earnings report came out today. Asana (NYSE:ASAN) shares rose 9.29% to $14.35. The company's market cap stands at $3.2 billion. As per the news, the Q1 earnings report came out today. AEye (NASDAQ:LIDR) shares moved upwards by 5.29% to $3.78. The market value of their outstanding shares is at $25.0 million. Brand Engagement Network
Porch Group (NASDAQ:PRCH) reported quarterly losses of $(0.21) per share which beat the analyst consensus estimate of $(0.34) by 38.24 percent. This is a 46.15 percent increase over losses of $(0.39) per share from the same period last year. The company reported quarterly sales of $115.443 million which beat the analyst consensus estimate of $104.684 million by 10.28 percent. This is a 32.13 percent increase over sales of $87.369 million the same period last year.
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Stephens & Co. analyst John Campbell reiterates Porch Group (NASDAQ:PRCH) with a Overweight and maintains $6 price target.
Gainers Porch Group (NASDAQ:PRCH) stock moved upwards by 5.5% to $4.75 during Thursday's after-market session. The company's market cap stands at $463.5 million. Thoughtworks Holding (NASDAQ:TWKS) stock increased by 5.08% to $2.48. The market value of their outstanding shares is at $800.3 million. Presto Automation (NASDAQ:PRST) stock moved upwards by 4.95% to $0.19. The market value of their outstanding shares is at $18.1 million. Maxeon Solar Technologies (NASDAQ:MAXN) shares increased by 4.89% to $3.0. The market value of their outstanding shares is at $158.3 million. Kingsoft Cloud Hldgs (NASDAQ:KC) stock increased by 4.75% to $3.23. The company's market cap stands at $754.6 million
SEATTLE, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced the appointment of Shawn Tabak as Chief Financial Officer (CFO), effective November 9, 2022. Marty Heimbigner, Porch Group's current Chief Financial Officer, will remain with the Company for a transitional period in a supporting role. "I couldn't be more thrilled to welcome Shawn to Porch Group. With his strategic background, specifically within the technology industry, we are confident that he is well suited to help drive our company forward and create additional value for o
SEATTLE, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced that Amanda Reierson and Camilla Velasquez have been appointed to its Board of Directors ("Board"), effective immediately. With the appointment of these two accomplished women, Porch Group's Board will comprise eight directors, fifty percent of whom are members of diverse communities. "We are very pleased to have Amanda and Camilla join our Board," said Matt Ehrlichman, CEO, Chairman and Founder of Porch Group. "The addition of these directors complements our board of directo
SEATTLE, May 31, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, is pleased to announce the appointment of three key members to its management team. These additions to the Porch Group leadership team provide strategic guidance to the Company's ongoing corporate development and drive innovative value across several of the organizations departments. Janet Zimmermann has been appointed as Vice President of People to lead Porch's human resource functions and the scaling of its People organization. In this role, Zimmermann will leverage her expertise to continu
Trax continues to strengthen executive leadership team to build on growth momentum Trax, a leading global provider of computer vision solutions and analytics for retail, today announced the appointment of Dena Singleton as its Chief Human Resources Officer (CHRO). Singleton will play a crucial role in the company's growth as she oversees Trax's people strategy, including operations, recruitment, learning and development, and diversity and inclusion efforts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220412005457/en/Dena Singleton (Photo: Business Wire) "Dena brings many years of progressive human resources leadership experie
SEATTLE, March 16, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services industry, announced today that Sean Kell will be appointed to its Board of Directors, effective March 17, 2022. Javier Saade and Chris Terrill simultaneously concluded, effective upon Kell's appointment, their service on Porch's Board given additional external responsibilities. As part of the Board update, the independent Board members appointed Regi Vengalil, currently Chair of the Mergers and Acquisition Committee of the Board, as the Company's Lead Independent Director. "We are pleased to welcome Sean– a highly qualifi
SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing home services, announced today that Rachel Lam and Maurice Tulloch have been appointed to its Board of Directors, effective August 12, 2021. Thomas Hennessy and Margaret Whelan, directors of the former special purpose acquisition corporation (SPAC) PropTech Acquisition Corporation (PTAC), simultaneously concluded their service on Porch's Board after helping guide Porch through a successful transition into the public markets. "With solid performance in the public markets thus far since our December 2020 de-SPAC transaction, we felt it was th