Domo (NASDAQ:DOMO) Price Target Raised to $9.00 at TD Cowen

Domo (NASDAQ:DOMO) had its target price raised by TD Cowen from $8.00 to $9.00 in a research report report published on Friday morning, Benzinga reports. TD Cowen currently has a hold rating on the stock.

DOMO has been the topic of several other research reports. Morgan Stanley cut their price objective on Domo from $13.00 to $7.00 and set an equal weight rating on the stock in a report on Friday, May 24th. Lake Street Capital downgraded Domo from a buy rating to a hold rating and cut their price objective for the company from $15.00 to $8.00 in a report on Friday, May 24th. Finally, JMP Securities reissued a market outperform rating and set a $16.00 price objective on shares of Domo in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $9.60.

Domo Stock Performance

Shares of DOMO stock opened at $7.47 on Friday. The stock’s fifty day moving average price is $7.80 and its two-hundred day moving average price is $8.24. The company has a market cap of $285.17 million, a PE ratio of -3.56 and a beta of 2.45. Domo has a fifty-two week low of $6.11 and a fifty-two week high of $12.23.

Insiders Place Their Bets

In related news, Director Daniel David Daniel III bought 150,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were purchased at an average cost of $6.69 per share, with a total value of $1,003,500.00. Following the acquisition, the director now owns 411,400 shares of the company’s stock, valued at $2,752,266. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Domo news, EVP Daren Thayne sold 7,095 shares of Domo stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $6.85, for a total transaction of $48,600.75. Following the transaction, the executive vice president now directly owns 406,663 shares of the company’s stock, valued at approximately $2,785,641.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel David Daniel III bought 150,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were bought at an average cost of $6.69 per share, for a total transaction of $1,003,500.00. Following the completion of the acquisition, the director now directly owns 411,400 shares in the company, valued at approximately $2,752,266. The disclosure for this purchase can be found here. Company insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of Domo by 161.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $27,000 after acquiring an additional 1,622 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Domo by 3.7% in the 1st quarter. BNP Paribas Financial Markets now owns 45,337 shares of the company’s stock worth $404,000 after acquiring an additional 1,630 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Domo by 51.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock worth $48,000 after acquiring an additional 2,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Domo by 58.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after acquiring an additional 2,212 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Domo by 0.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 628,503 shares of the company’s stock worth $5,606,000 after acquiring an additional 2,501 shares in the last quarter. 76.64% of the stock is owned by institutional investors.

Domo Company Profile

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.