Morgan Stanley Issues Positive Forecast for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO) had its price objective raised by Morgan Stanley from $7.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and set a $16.00 target price on shares of Domo in a research report on Friday, December 6th. Cowen reiterated a “hold” rating on shares of Domo in a research report on Friday, March 7th. DA Davidson upgraded shares of Domo to a “hold” rating in a research report on Monday, March 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Domo in a research report on Friday, March 7th. Finally, TD Cowen increased their price target on shares of Domo from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 29th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.42.

Domo Stock Up 3.4 %

NASDAQ DOMO opened at $8.49 on Thursday. The stock has a market capitalization of $332.03 million, a P/E ratio of -3.88 and a beta of 2.56. Domo has a 52-week low of $6.11 and a 52-week high of $10.15. The firm has a 50-day moving average price of $7.94 and a 200 day moving average price of $7.88.

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

Insider Buying and Selling

In other Domo news, Director David R. Jolley sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the transaction, the director now owns 255,743 shares of the company’s stock, valued at $2,125,224.33. This trade represents a 8.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Domo

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its stake in Domo by 127.0% during the fourth quarter. Mackenzie Financial Corp now owns 76,117 shares of the company’s stock worth $539,000 after purchasing an additional 42,581 shares during the period. Connective Capital Management LLC purchased a new position in Domo during the fourth quarter worth approximately $315,000. Squarepoint Ops LLC purchased a new position in Domo during the fourth quarter worth approximately $127,000. RPD Fund Management LLC purchased a new position in Domo during the fourth quarter worth approximately $15,449,000. Finally, Occudo Quantitative Strategies LP raised its stake in Domo by 74.9% during the fourth quarter. Occudo Quantitative Strategies LP now owns 47,508 shares of the company’s stock worth $336,000 after purchasing an additional 20,339 shares during the period. 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.