UPDATE: JMP Securities Starts Root, Inc. (DOMA) at Market Outperform
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JMP Securities analyst Matthew Carletti initiates coverage on Root, Inc. (NYSE: DOMA) with a Market Outperform rating and a price target of $14.00.
The analyst comments "Doma is disrupting a large ($23 bln), antiquated market by developing industry-leading modern technology to compete with large incumbents using decades-old, highly-manual processes. Having only launched in 2018, Doma has already developed significant relationships with a number of the nation’s largest home lenders (Chase, Wells, and PennyMac, to name just a few), and we believe it has significant runway for strong growth for years to come."
Shares of Root, Inc. closed at $6.84 yesterday.
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