Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Porch Group (PRCH) Surges 6.3%: Is This an Indication of Further Gains?
Porch Group, Inc. (PRCH - Free Report) shares soared 6.3% in the last trading session to close at $6.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 33.1% gain over the past four weeks.
Porch Group is benefiting from its unique data-driven underwriting, expanded distribution partnerships, and innovative insurance and vertical software solutions, driving strong revenue growth and improved profitability.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $80.45 million, down 30.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Porch Group, the consensus EPS estimate for the quarter has been revised 63.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PRCH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Porch Group is a member of the Zacks Internet - Software industry. One other stock in the same industry, Braze, Inc. (BRZE - Free Report) , finished the last trading session 2.7% higher at $37.03. BRZE has returned -11.3% over the past month.
For Braze, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of +225% from what the company reported a year ago. Braze currently has a Zacks Rank of #3 (Hold).