Domo (NASDAQ:DOMO) Given New $8.00 Price Target at DA Davidson

Domo (NASDAQ:DOMO) had its target price increased by DA Davidson from $7.00 to $8.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also issued reports on DOMO. JMP Securities reaffirmed a market outperform rating and issued a $16.00 target price on shares of Domo in a report on Friday. Morgan Stanley reduced their price objective on Domo from $13.00 to $7.00 and set an equal weight rating for the company in a report on Friday, May 24th. TD Cowen raised their price target on Domo from $8.00 to $9.00 and gave the stock a hold rating in a report on Friday. Finally, Lake Street Capital lowered Domo from a buy rating to a hold rating and cut their price target for the stock from $15.00 to $8.00 in a report on Friday, May 24th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $9.60.

Domo Stock Down 3.2 %

DOMO stock opened at $7.47 on Friday. The firm has a market cap of $285.17 million, a PE ratio of -3.56 and a beta of 2.45. The business has a 50 day moving average of $7.80 and a 200-day moving average of $8.24. Domo has a 12-month low of $6.11 and a 12-month high of $12.23.

Insider Buying and Selling at Domo

In other Domo news, EVP Daren Thayne sold 7,095 shares of the firm’s 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 sale, the executive vice president now owns 406,663 shares in the company, valued at $2,785,641.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Domo news, EVP Daren Thayne sold 7,095 shares of the firm’s 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 sale, the executive vice president now owns 406,663 shares in the company, valued at $2,785,641.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel David Daniel III purchased 150,000 shares of the stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of $6.87 per share, for a total transaction of $1,030,500.00. Following the transaction, the director now directly owns 561,400 shares of the company’s stock, valued at $3,856,818. The disclosure for this purchase can be found here. Company insiders own 14.04% of the company’s stock.

Institutional Investors Weigh In On Domo

A number of large investors have recently added to or reduced their stakes in DOMO. Tower Research Capital LLC TRC increased its holdings in shares of Domo by 161.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $27,000 after buying an additional 1,622 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Domo in the first quarter worth about $43,000. EntryPoint Capital LLC purchased a new position in shares of Domo in the first quarter worth about $45,000. Harbor Capital Advisors Inc. increased its holdings in shares of Domo by 51.1% in the second quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock worth $48,000 after buying an additional 2,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Domo by 58.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after purchasing an additional 2,212 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.