Domo’s (DOMO) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Domo (NASDAQ:DOMO) in a research note published on Thursday morning,Benzinga reports. They currently have a $11.00 price objective on the stock.

DOMO has been the topic of several other reports. TD Cowen boosted their price target on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 29th. DA Davidson raised Domo to a “hold” rating in a research report on Monday, March 10th. Cowen reissued a “hold” rating on shares of Domo in a research report on Friday, March 7th. JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Domo in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on Domo from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.42.

Domo Price Performance

NASDAQ DOMO opened at $8.29 on Thursday. The firm has a market capitalization of $324.21 million, a P/E ratio of -3.79 and a beta of 2.56. Domo has a 1-year low of $6.11 and a 1-year high of $10.15. The business’s 50-day simple moving average is $8.08 and its 200-day simple moving average is $7.91.

Domo (NASDAQ:DOMO) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) 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 analysts’ expectations of $77.95 million. On average, equities research analysts expect that Domo will post -2.1 EPS for the current fiscal year.

Insider Activity

In other news, Director David R. Jolley sold 25,000 shares of Domo 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 transaction, the director now directly owns 255,743 shares of the company’s stock, valued at approximately $2,125,224.33. The trade was a 8.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp boosted its holdings in shares of Domo by 127.0% in the 4th quarter. Mackenzie Financial Corp now owns 76,117 shares of the company’s stock valued at $539,000 after buying an additional 42,581 shares during the period. Connective Capital Management LLC acquired a new position in shares of Domo in the 4th quarter valued at about $315,000. Squarepoint Ops LLC bought a new stake in Domo in the 4th quarter valued at about $127,000. RPD Fund Management LLC bought a new stake in Domo in the 4th quarter valued at about $15,449,000. Finally, Occudo Quantitative Strategies LP lifted its position in Domo by 74.9% in the 4th quarter. Occudo Quantitative Strategies LP now owns 47,508 shares of the company’s stock valued at $336,000 after purchasing an additional 20,339 shares during the last quarter. 76.64% of the stock is owned by institutional investors and hedge funds.

About Domo

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.