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.
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Read More on FATH:
- Fathom Digital reports Q3 EPS ($1.24), consensus ($1.00)
- Fathom Digital appoints Carey Chen as CEO
- Fathom Digital’s 1-for-20 reverse stock split becomes effective
- NYSE to commence delisting proceedings of warrants of Fathom Digital
- Fathom Digital announces 1-for-20 reverse stock split
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