Porch Group (PRCH) Surges 6.3%: Is This an Indication of Further Gains?

Porch Group, Inc. PRCH shares soared 6.3% in the last trading session to close at $6.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 33.1% gain over the past four weeks.Porch Group is benefiting from its unique data-driven underwriting, expanded distribution partnerships, and innovative insurance and vertical software solutions, driving strong revenue growth and improved profitability.This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $80.45 million, down 30.3% 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 been revised 63.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Porch Group is a member of the Zacks Internet - Software industry. One other stock in the same industry, Braze, Inc. BRZE, finished the last trading session 2.7% higher at $37.03. BRZE has returned -11.3% over the past month.For Braze, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of +225% from what the company reported a year ago. Braze currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Porch Group, Inc. (PRCH): Free Stock Analysis Report Braze, Inc. (BRZE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks