Porch Group gains as Compass Point highlights "unique" business model

Porch

25/05/2022 12:55

** Shares of Porch Group Inc  PRCH.O , a software provider
for home service companies, rise 6.2% to $4.09 premarket
    ** Compass Point starts with "buy" rating and PT of $11.50,
which represents a premium that is triple of last close; the
target is in line with median PT as per Refinitiv data 
    ** Brokerage says PRCH's "unique" business model -
tech-enabled approach in home services and insurance - will
drive a competitive advantage, especially with low acquisition
costs
    ** Says co's revenue mix leaves reduced exposure to macro
headwinds 
    ** Stock set to recover after a ~18% plunge on Tuesday
    ** YTD, PRCH down 75% as of last close

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))