Fathom Holdings Inc. (FTHM) PT Raised to $23.50 at Roth Capital

Roth Capital analyst Darren Aftahi raised the price target on Fathom Holdings Inc. (NASDAQ: FTHM) to $23.50 (from $21.00) while maintaining a Buy rating after September U.S. existing home sales accelerated to ~21% y/y, closing out a very strong trend for 3Q. FTHM’s top market (South) grew ~22% y/y in September, up ~900 bps from July/Aug. growth levels.

The analyst stated "When we juxtapose South y/y growth (in 2020), relative to FTHM’s historical transaction growth by Q in 2020, it paints, in our view, a very positive picture, relative to our projected 22% y/y 3Q transaction growth. As such, we believe upside likely exists".

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