Ohmyhome price target lowered to $1.50 from $3 at Maxim

Maxim analyst Allen Klee lowered the firm’s price target on Ohmyhome to $1.50 from $3 but keeps a Buy rating on the shares. The company’s first-half results saw a miss on revenue and adjusted EBITDA, even though its topline growth of 106% is showing “good momentum” for Ohmyhome while its losses are narrowing, the analyst tells investors in a research note. Tailwinds for the company include expected lower mortgage rates, market share gains in brokerage transactions, growth in property management, and synergies of upselling condo owners on the company’s brokerage and renovation offerings, the firm added.