Thursday, February 25, 2021

PropTech Acquisition Corporation [PRCH] Revenue clocked in at $72.05 million, up 24.81% YTD: What’s Next?

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PropTech Acquisition Corporation [NASDAQ: PRCH] traded at a high on 02/04/21, posting a 10.76 gain after which it closed the day’ session at $17.81. The company report on February 4, 2021 that Following IPO and Acquisitions, Porch Group Expands Leadership Team With Four Industry Veterans.

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Porch Group (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software platform reinventing the home services industry, announced an expansion of their leadership team, including Adam Kornick as President of Insurtech, Andrew Beck as head of Contractor Tools SaaS, Malcolm Conner leading Porch’s Home Services group, and Manisha Patel as Vice President of Finance.


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Adam Kornick, President of the Insurtech division at Porch, is responsible for making insurance in the home simple using unique demand and data from Porch’s vertical software platform and B2B2C business model. Mr. Kornick previously led data and technology functions as the Chief Data Technologist at Allstate and was the Chief Analytics Officer at Aviva. He also had a career at Progressive as a leader in product, operations and advanced analytics, including managing operations to a substantially lower Non-Acquisition Expense Ratio to enable rapid, profitable growth and developing the capabilities to allow digital marketing across 40 billion impressions, yielding 8% more customers at the same marketing spend level.Leading Porch Group’s Contractor Tools SaaS and Services division, Andrew Beck specializes in operational performance improvement, holistic P&L ownership, and M&A. Andrew served as General Manager at EverCommerce where he built a division of home and field services SaaS solutions and supported M&A integrations. During his tenure, EverCommerce grew from startup to $2 billion in revenue, completed 35 domestic and international acquisitions, and underwent a very successful recapitalization with Silver Lake Partners.

The results of the trading session contributed to over 4084968 shares changing hands. Over the past one week, the price volatility of PropTech Acquisition Corporation stands at 10.06% while the volatility over the past one month is 9.64%.

The market cap for PRCH stock reached $1.38 billion, with 21.56 million shares outstanding and 18.22 million shares in the current float. Compared to the average trading volume of 931.45K shares, PRCH reached a trading volume of 4084968 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about PropTech Acquisition Corporation [PRCH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRCH shares is $24.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRCH stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for PropTech Acquisition Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 29, 2020.

The Average True Range (ATR) for PropTech Acquisition Corporation is set at 1.51, with the Price to Sales ratio for PRCH stock in the period of the last 12 months amounting to 19.13. The Price to Book ratio for the last quarter was 2.32, with the Price to Cash per share for the same quarter was set at 0.01.

How has PRCH stock performed recently?

PropTech Acquisition Corporation [PRCH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.08. With this latest performance, PRCH shares gained by 33.81% in over the last four-week period, additionally plugging by 69.62% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRCH stock in for the last two-week period is set at 65.32, with the RSI for the last a single of trading hit 67.54, and the three-weeks RSI is set at 64.63 for PropTech Acquisition Corporation [PRCH]. The present Moving Average for the last 50 days of trading for this stock 13.79, while it was recorded at 15.89 for the last single week of trading, and 11.15 for the last 200 days.

PropTech Acquisition Corporation [PRCH]: Deeper insight into the fundamentals

PropTech Acquisition Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

Insider trade positions for PropTech Acquisition Corporation [PRCH]

There are presently around $304 million, or 27.80% of PRCH stock, in the hands of institutional investors. The top three institutional holders of PRCH stocks are: GRANAHAN INVESTMENT MANAGEMENT INC/MA with ownership of 2,911,332, which is approximately New of the company’s market cap and around 14.70% of the total institutional ownership; FALCON EDGE CAPITAL, LP, holding 1,648,433 shares of the stock with an approximate value of $29.36 million in PRCH stocks shares; and WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, currently with $20.11 million in PRCH stock with ownership of nearly New of the company’s market capitalization.

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33 institutional holders increased their position in PropTech Acquisition Corporation [NASDAQ:PRCH] by around 11,918,808 shares. Additionally, 31 investors decreased positions by around 8,280,749 shares, while 1 investors held positions by with 3,113,661 shares. The mentioned changes placed institutional holdings at 17,085,896 shares, according to the latest SEC report filing. PRCH stock had 30 new institutional investments in for a total of 10,845,683 shares, while 20 institutional investors sold positions of 4,447,857 shares during the same period.

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