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Investing.com - Benchmark raised its price target on Porch Group Inc. (NASDAQ:PRCH) to $21.00 from $17.00 on Wednesday, while maintaining a Buy rating on the home services platform. The company, now valued at $1.95 billion, has seen its stock surge over 1,450% in the past year, according to InvestingPro data.
The research firm cited Porch Group’s continued momentum, noting that shares have been making new 52-week highs at $19.22. Benchmark’s updated valuation reflects confidence in the company’s growth trajectory despite current housing market conditions. InvestingPro analysis reveals 13 additional key insights about PRCH’s valuation and growth potential.
Benchmark highlighted that its current estimates assume a housing market "bouncing along the bottom" at approximately 3 million annual transactions, without factoring in potential benefits from Porch’s ramping home factors data monetization platform.
The firm’s analysis also points to conservative reciprocal written premium (RWP) assumptions of $600 million, which it describes as "just a fraction of Porch’s own total capacity" and "a rounding error relative to the size of the overall market."
Benchmark indicated that Porch Group remains one of its top investment ideas for both short-term and long-term horizons, suggesting the company has potential as a "multi-year compounder."
In other recent news, Porch Group Inc. reported its financial results for the second quarter of 2025, highlighting a significant revenue beat. The company’s earnings per share were $0.03, surpassing the forecasted -$0.08, with revenue reaching $119.2 million, exceeding expectations of $99.39 million. In analyst updates, Goldman Sachs initiated coverage on Porch Group with a Buy rating and set a price target of $21. Cantor Fitzgerald also assumed coverage with an Overweight rating, raising the price target to $20 from $5. Keefe, Bruyette & Woods increased its price target to $16 from $7, maintaining a Market Perform rating. Additionally, Keefe, Bruyette & Woods adjusted its 2025 EBITDA estimate to $68 million from $67 million, while keeping the 2026 EBITDA estimate at $104 million. These developments reflect a series of positive analyst actions and financial results for Porch Group.
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