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Investing.com - Keefe, Bruyette & Woods raised its price target on Porch Group Inc. (NASDAQ:PRCH) to $16.00 from $7.00 while maintaining a Market Perform rating.
The research firm increased its 2025 EBITDA estimate to $68 million from $67 million following Porch Group’s second-quarter results and updated guidance. Keefe, Bruyette & Woods maintained its 2026 EBITDA estimate of $104 million.
The significant price target increase reflects the firm’s willingness to assign a higher multiple to Porch Group’s earnings, moving to 25x 2026 estimated EBITDA from the previous 14x multiple.
Keefe, Bruyette & Woods cited Porch Group’s new capital-light operating structure and the resulting benefits as key factors supporting the higher valuation multiple.
Despite the substantial price target increase, the firm maintained its Market Perform rating, noting that Porch Group shares "appear fully valued at current levels" despite management’s optimism about growth prospects driven by healthy reciprocal surplus and expansion of agency distribution channels.
In other recent news, Porch Group, Inc. reported its financial results for the second quarter of 2025, showing a significant revenue beat. The company’s earnings per share (EPS) were $0.03, surpassing the forecasted -$0.08. Revenue reached $119.2 million, exceeding expectations of $99.39 million. These results mark a positive development for Porch Group, reflecting better-than-expected financial performance. The announcement has led to a favorable market reaction, with analysts noting the company’s improved earnings. Porch Group’s recent achievements highlight its ability to exceed market expectations. The positive earnings report is a key indicator of the company’s current financial health.
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