PRCH

Porch Group Inc

TMT, SPAC


Presented:03/17/2021
Price:$19.29
Cap:$1.59B
Current Price:$1.45
Cap:$0.15B

Presented

Date03/17/2021
Price$19.29
Market Cap$1.59B
Ent Value$0.24B
P/E RatioN/A
Book Value$7.67
Div Yield0%
Shares O/S82.65M
Ave Daily Vol1,943,359
Short IntN/A

Current

Price$1.45
Market Cap$0.15B
Porch Group, Inc. engages in the development and operation of a vertical software platform. It provides software solutions to home service companies such as home inspectors, moving companies, real estate agencies, utility companies, and warranty companies. The company was founded on December 23, 2020 and is headquartered in Seattle, WA.

Publicly traded companies mentioned herein: Porch Group Inc (PRCH)

Highlights 

The presenter is long shares of Porch Group Inc (PRCH), an online home services marketplace that de-SPAC’d in December 2020 and has a ~$1.6B market cap. He thinks PRCH can grow topline 30%+ annually over a long time horizon through market share gains, an inflection in the business mix, continued M&A opportunities, and strong leadership. Additionally, he sees incremental upside over a shorter term based on cyclical tailwinds and merger synergies. The stock trades at ~$19 per share, or ~6x the Street’s 2022 revenue estimate of $249MM, which the presenter sees upside to. Given the company’s strong growth profile, the presenter believes PRCH’s revenue multiple could at least double. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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