Domo (NASDAQ:DOMO) Price Target Raised to $10.00

Domo (NASDAQ:DOMO) had its price objective raised by TD Cowen from $9.00 to $10.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other brokerages also recently commented on DOMO. JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research report on Friday, August 30th. DA Davidson increased their price target on shares of Domo from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.80.

Domo Stock Up 0.9 %

Shares of DOMO opened at $9.36 on Friday. The stock has a market cap of $361.58 million, a P/E ratio of -4.33 and a beta of 2.43. The business’s 50 day moving average price is $8.09 and its 200-day moving average price is $7.67. Domo has a 52 week low of $6.11 and a 52 week high of $12.23.

Domo (NASDAQ:DOMO) last released its earnings results on Thursday, August 29th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.21. The company had revenue of $78.41 million during the quarter, compared to the consensus estimate of $76.60 million. During the same period last year, the firm posted ($0.44) earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Domo will post -2.31 EPS for the current year.

Insider Buying and Selling at Domo

In related news, CFO David R. Jolley acquired 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $6.99 per share, for a total transaction of $69,900.00. Following the completion of the transaction, the chief financial officer now directly owns 291,465 shares in the company, valued at approximately $2,037,340.35. This trade represents a 3.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.04% of the company’s stock.

Institutional Investors Weigh In On Domo

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its position in shares of Domo by 51.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock valued at $48,000 after purchasing an additional 2,100 shares during the last quarter. SG Americas Securities LLC bought a new position in Domo in the third quarter worth approximately $88,000. XTX Topco Ltd purchased a new position in shares of Domo during the 3rd quarter worth $97,000. Rockwood Wealth Management LLC bought a new stake in shares of Domo during the 2nd quarter valued at $104,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Domo in the 1st quarter worth $121,000. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

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.