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Oppenheimer Initiates Coverage on Doma Holdings Inc. With Outperform rating and $11 Price Target
Sep 17, 2021 6:51 PM - Davit Kirakosyan
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Oppenheimer initiated coverage on Doma Holdings Inc. (NYSE:DOMA) with outperform rating and $11 price target.
Analysts view the company as well-positioned to capitalize on the digitization of mostly manual and time-consuming residential real estate closing process with its technology to automate repetitive tasks involved in finalizing a purchase/refinance and as a result reduce a traditional 50-day process to less than a week.
The brokerage projects a long runway given the adoption of digital closings is still in its beginning phase, as local agencies and enterprises increasingly realize the efficiencies brought forth by automation.
According to the analysts at Oppenheimer the company is expected to materially grow wallet share of enterprise accounts as legacy incumbents with greater headcount cannot afford to compete on price.
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