Fathom Holdings Inc. (FTHM) PT Lowered to $4.50 at Roth/MKM

Roth/MKM analyst Darren Aftahi lowered the price target on Fathom Holdings Inc. (NASDAQ: FTHM) to $4.50 (from $5.00) while maintaining a Buy rating.

The analyst comments "Despite 4Q results falling below expectations, FY24 appears to be off to a better start as initiatives like producer perks and title joint ventures are expected to bolster agent additions and drive transaction growth, especially in 2H24 as comps ease. Mortgage and title growth should aid profitability, especially if JVs are expanded to more states, positioning FTHM for profitability by 2Q and throughout 2024. Programs focused on adding higher-producing agents keep us optimistic about a return to growth mid-year. PT moves from $5.00 to $4.50."

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