Fathom Digital price target lowered to $5 from $10 at Lake Street

Lake Street lowered the firm’s price target on Fathom Digital to $5 from $10 and keeps a Hold rating on the shares. Q3 results were “slightly below expectations” as the broader macro slowdown has decreased customers order volumes, but given the financing risk, cash burn, and unfavorable macro environment the firm is lowering its price target, the analyst tells investors.