Analyst Allen Klee from Maxim Group reiterated a Buy rating on Ohmyhome Limited (OMH – Research Report) and decreased the price target to $6.00 from $15.00.
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Allen Klee has given his Buy rating due to a combination of factors including Ohmyhome Limited’s strong financial performance and growth potential. The company reported impressive revenue growth of 126% year-over-year for the second half of 2024, with a significant improvement in gross margins. This indicates a positive trend in the company’s operational efficiency and market positioning.
Additionally, Ohmyhome’s strategic initiatives, such as market share gains in brokerage transactions and expansion in property management, contribute to its growth prospects. Despite the need for capital raising by mid-2025, the company’s valuation appears attractive, trading at a lower EV/revenue multiple compared to peers. These elements collectively support the Buy rating, as they suggest a promising future for Ohmyhome Limited in the real estate tech sector.
OMH’s price has also changed dramatically for the past six months – from $0.386 to $3.030, which is a 684.97% increase.