Brokerages Set Domo, Inc. (NASDAQ:DOMO) Target Price at $10.42

Shares of Domo, Inc. (NASDAQ:DOMO) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $10.42.

Several research firms have recently issued reports on DOMO. Lake Street Capital cut their price objective on shares of Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a report on Friday, March 7th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Domo in a research note on Friday, December 6th. Morgan Stanley lifted their price objective on shares of Domo from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of Domo in a research report on Thursday, March 20th. Finally, DA Davidson raised Domo to a “hold” rating in a research report on Monday, March 10th.

Domo Stock Down 7.3 %

NASDAQ DOMO opened at $6.64 on Wednesday. The firm has a market cap of $259.68 million, a PE ratio of -3.03 and a beta of 2.28. Domo has a 52 week low of $6.01 and a 52 week high of $10.15. The company has a 50 day moving average price of $8.24 and a 200 day moving average price of $7.96.

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

Insider Buying and Selling at Domo

In related news, Director Daniel David Daniel III acquired 120,000 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $6.44 per share, with a total value of $772,800.00. Following the completion of the acquisition, the director now directly owns 781,400 shares in the company, valued at approximately $5,032,216. This trade represents a 18.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joshua G. James acquired 77,300 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $6.50 per share, for a total transaction of $502,450.00. Following the completion of the acquisition, the chief executive officer now owns 116,600 shares in the company, valued at $757,900. The trade was a 196.69 % increase in their position. The disclosure for this purchase can be found here. 14.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOMO. Vanguard Group Inc. lifted its position in Domo by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company’s stock worth $36,164,000 after buying an additional 36,029 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Domo by 9.4% during the 4th quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company’s stock worth $23,278,000 after acquiring an additional 282,943 shares in the last quarter. RPD Fund Management LLC purchased a new position in shares of Domo in the fourth quarter valued at approximately $15,449,000. Geode Capital Management LLC grew its stake in shares of Domo by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 770,810 shares of the company’s stock worth $5,458,000 after acquiring an additional 11,457 shares in the last quarter. Finally, State Street Corp increased its holdings in Domo by 2.6% during the 3rd quarter. State Street Corp now owns 750,371 shares of the company’s stock worth $5,635,000 after purchasing an additional 19,361 shares during the period. Hedge funds and other institutional investors 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.