Porch Group, Inc. PRCH shares rallied 6.4% in the last trading session to close at $8.2. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.6% gain over the past four weeks.
Porch Group benefits from high-margin business model, strong adjusted EBITDA growth and cash conversion, rapid growth in insurance premiums, expansion of distribution, improved conversion rates, strong statutory surplus and data & underwriting advantage.
This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -600%. Revenues are expected to be $91.04 million, down 13.1% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Porch Group belongs to the Zacks Internet - Software industry. Another stock from the same industry, Alight, Inc. ALIT, closed the last trading session 4.8% lower at $0.61. Over the past month, ALIT has returned -3.4%.
Alight's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. Compared to the company's year-ago EPS, this represents a change of -70%. Alight currently boasts a Zacks Rank of #4 (Sell).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
