Fathom price target lowered to $6 from $8 at Roth MKM

Roth MKM lowered the firm’s price target on Fathom to $6 from $8 but keeps a Buy rating on the shares ahead of its Q3 results. The continued slowdown in the housing market leads to expectations of sequential declines in transactions and revenue, but Fathom is expected to maintain its adjusted EBITDA profitability and near breakeven cash flow before an expected return to growth in Q4, the analyst tells investors in a research note.