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

Domo (NASDAQ:DOMO) had its price target lifted by Morgan Stanley from $7.00 to $9.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on DOMO. Lake Street Capital dropped their price target on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research note on Friday, March 7th. Cowen reissued a “hold” rating on shares of Domo in a research note on Friday, March 7th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Domo in a research note on Friday, December 6th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of Domo in a research report on Friday, March 7th. Finally, TD Cowen upped their price target on shares of Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 29th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Domo currently has a consensus rating of “Hold” and a consensus target price of $10.42.

Domo Price Performance

Shares of NASDAQ:DOMO opened at $8.49 on Thursday. The business’s 50-day moving average is $7.94 and its 200 day moving average is $7.88. Domo has a 1 year low of $6.11 and a 1 year high of $10.15. The firm has a market capitalization of $332.03 million, a P/E ratio of -3.88 and a beta of 2.56.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The company had revenue of $78.77 million during the quarter, compared to the consensus estimate of $77.95 million. On average, analysts expect that Domo will post -2.1 EPS for the current year.

Insider Buying and Selling at Domo

In other Domo news, Director David R. Jolley sold 25,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $8.31, for a total value of $207,750.00. Following the completion of the sale, the director now owns 255,743 shares in the company, valued at approximately $2,125,224.33. This represents a 8.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.04% of the stock is owned by insiders.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Domo by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 759,353 shares of the company’s stock worth $5,704,000 after buying an additional 4,091 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Domo during the third quarter worth $97,000. FMR LLC grew its stake in shares of Domo by 20.6% during the third quarter. FMR LLC now owns 301,457 shares of the company’s stock worth $2,264,000 after purchasing an additional 51,494 shares in the last quarter. Barclays PLC grew its stake in shares of Domo by 56.8% during the third quarter. Barclays PLC now owns 79,611 shares of the company’s stock worth $598,000 after purchasing an additional 28,838 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Domo by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 524,105 shares of the company’s stock worth $3,936,000 after purchasing an additional 12,494 shares in the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.

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.