BitMine stock falls after CEO change and board appointments
Investing.com - B.Riley has raised its price target on Porch Group Inc. (NASDAQ:PRCH) to $19.00 from $16.00 while maintaining a Buy rating following the company’s earnings results. This target aligns closely with InvestingPro’s Fair Value assessment, which suggests the stock is currently fairly valued. The company has delivered an impressive 600% price return over the past year.
The new price target represents a 26x EV/EBITDA multiple, which B.Riley justifies based on Porch Group’s strong growth profile and high margins that can support an above-peer valuation. The firm notes that closest competitors trade at approximately 23x 2026E EV/EBITDA multiple. Currently, Porch Group trades at a 35.49x EV/EBITDA multiple based on last twelve months’ EBITDA of $47.6 million, reflecting its premium valuation.
B.Riley forecasts adjusted EBITDA to grow approximately 50% year-over-year, outpacing peers. The firm’s 2026E adjusted EBITDA estimate of $104.9 million slightly exceeds Porch Group’s own guidance of $100 million that was provided at its 2024 investor day.
The research firm identifies three key drivers for reciprocal written premiums (RWP) growth: increased agents in 2026 enabling more quote volume, potential expansion into new states creating more premium-writing opportunities, and home factors that can adequately price risk.
B.Riley believes these factors will increase homeowner engagement for both renewals and new insurance policies, supporting the company’s continued growth trajectory.
In other recent news, Porch Group Inc. reported its third-quarter 2025 financial results, surpassing revenue expectations. The company achieved a revenue of $118.08 million, which exceeded the forecast of $111.13 million, resulting in a 6.25% surprise. Despite this revenue success, Porch Group faced a shortfall in its earnings per share (EPS), reporting an actual EPS of -$0.10, which was below the forecasted -$0.03. These developments are part of the recent updates concerning the company.
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