Doma Holdings price target lowered to $20 from $25 at JMP Securities

JMP Securities lowered the firm’s price target on Doma Holdings to $20 from $25 and keeps an Outperform rating on the shares. While severely reduced transaction volumes, driven by elevated interest rates, continue to present a macro headwind, the delayed impact of cost-cutting actions already taken should continue to push EBITDA toward sustainable positivity across the balance of 2024, the analyst tells investors in a research note. Doma’s recent efforts to utilize its core underwriting technology in more of a software/Software as a Service-like model are making good progress forward, the firm adds.