5 Best One Dollar Stocks To Buy Now

1. Porch Group, Inc. (NASDAQ:PRCH)

Number Of Hedge Fund Holders: 20

Share Price as of August 1: $1.91

Porch Group, Inc. (NASDAQ:PRCH) is a home services marketplace that was established in 2013, offering a platform that connects homeowners to builders, contractors, interior designers, home improvement companies, and other relevant professionals. Porch Group, Inc. (NASDAQ:PRCH)’s Homeowners of America (HOA), a property and casualty insurance provider, announced the milestone launch of homeowners insurance services in Indiana on July 12, marking its 20th state of operation.

Earlier this May, Compass Point analyst Jason Weaver initiated coverage of Porch Group, Inc. (NASDAQ:PRCH) with a Buy rating and $11.50 price target. Porch Group, Inc. (NASDAQ:PRCH) sells software to home services companies and receives downstream revenues from attendant service fees, notes Weaver, who sees the company’s unique business model offering competitive advantages to its network of home services companies. The analyst also predicts that the ongoing benefits of its “ecosystem” of customers will drive growth in the 30%-40% annual range.

Porch Group, Inc. (NASDAQ:PRCH) was found in 20 hedge fund portfolios at the end of the first quarter of 2022, compared to 17 funds in the previous quarter.

Here is what Vulcan Value Partners has to say about Porch Group, Inc. (NASDAQ:PRCH) in its Q1 2022 investor letter:

“Porch Group Inc. offers a platform that provides customer relationship management software and services to home services businesses. The company also provides an online concierge service to homebuyers. The recent stock price decline could be attributed to a reported weakness in its internal controls along with a two-week delayed filing of the company’s 10-K. When the company filed its final results, they were actually better than their initial results. Porch is actively working to bolster its finance department to prevent similar issues in the future, and we are confident that this is simply short-term noise. The company reported strong results during the quarter, and our long-term thesis remains intact.”

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