Fathom price target lowered to $4.50 from $5 at Roth MKM

Roth MKM lowered the firm’s price target on Fathom to $4.50 from $5 and keeps a Buy rating on the shares. The company’s Q4 results were below expectations,though its FY24 looks 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, the analyst tells investors in a research note. Roth MKM adds that programs focused on adding higher-producing agents keep the firm optimistic about the company’s return to growth mid-2024.