Porch Group, Inc. (PRCH)
Porch Group, Inc. operates in the Insurance - Property & Casualty industry of the Financial Services sector, headquartered in Seattle, WA, US. The stock last traded at $16.53, up 0.36% on the session, giving a market capitalisation of $1.88B. On trailing twelve-month figures it carries a trailing P/E of -134.83, a net margin of -1.1%. Its beta of 3.15 implies it has historically moved more than the broad market.
Porch Group, Inc. functions as a technology company, delivering a comprehensive software platform across both the United States and Canada. Its business model is structured around two core segments: Vertical Software and Insurance. The Vertical Software division furnishes specialized software solutions and a range of services tailored for companies in the home services industry. It also facilitates early connections and resources for both prospective and current homeowners. This segment's clientele spans various entities, including home service professionals (such as inspectors), consumers (homebuyers and existing homeowners), and diverse service providers covering moving, insurance, home warranty, security, and telecommunication services. Noteworthy brands within this segment include Floify, HireAHelper, ISN, iRoofing, Palm-Tech, Porch.com, Rynoh, and V12. Conversely, the Insurance segment specializes in providing property-related insurance policies. This is achieved through its proprietary risk-bearing insurance carrier, an independent agency network, and its own home warranty underwriting entity. Key brands associated with this segment are American Home Protect, Elite Insurance Group, and Homeowners of America. Beyond these primary segments, Porch Group also offers a spectrum of additional insurance products, encompassing property and casualty, residential, automotive, flood, and umbrella coverage, in addition to various services for contractors. The company was established in 2011 and maintains its corporate headquarters in Seattle, Washington.
Porch Group, Inc. is most often compared with the following Financial Services names: