skynesher
Summary
- Porch Group share price has declined by 85% since going public. Aggressive inorganic growth strategy has exposed it to financial and integration risks.
- Expansion into insurance underwriting has helped maintain strong growth and resilience.
- I give PRCH stock a neutral rating. The stock appears fully-valued today.
Porch Group (NASDAQ:PRCH) is a company developing vertical software platforms for home service industries. The company aims to simplify and streamline the home improvement and maintenance process by providing homeowners with access to various services and connecting them with qualified professionals.
Since going public in 2020, the stock has not performed well. It reached an all-time high of ~$24 sometime in 2021, but then gradually declined to reach ~$1.4 per share today, an ~85% decline from the initial price when it went public, and a ~26% decline YTD.
READ FULL ARTICLE HERE!