Morgan Stanley Downgrades Domo (NASDAQ:DOMO) to Equal Weight

Domo (NASDAQ:DOMOGet Rating) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $16.00 price objective on the stock, down from their previous price objective of $24.00. Morgan Stanley’s target price points to a potential upside of 29.76% from the stock’s previous close.

DOMO has been the topic of a number of other reports. Cowen dropped their price objective on shares of Domo from $27.00 to $23.00 in a research note on Friday, December 9th. Cowen lowered their target price on shares of Domo from $27.00 to $23.00 in a research note on Friday, December 9th. JMP Securities lowered their target price on shares of Domo from $43.00 to $30.00 and set a “market outperform” rating for the company in a research note on Friday, December 9th. Finally, Lake Street Capital lowered their target price on shares of Domo from $25.00 to $23.00 in a research note on Friday, December 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Domo Price Performance

Shares of DOMO stock opened at $12.33 on Friday. The company’s 50-day simple moving average is $14.14 and its two-hundred day simple moving average is $19.89. Domo has a one year low of $11.35 and a one year high of $57.41. The company has a market capitalization of $425.94 million, a P/E ratio of -3.47 and a beta of 2.20.

Domo (NASDAQ:DOMOGet Rating) last released its quarterly earnings data on Thursday, December 8th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.13. The business had revenue of $79.03 million for the quarter, compared to the consensus estimate of $76.43 million. On average, research analysts expect that Domo will post -3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Domo news, major shareholder Joshua G. James sold 43,471 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $13.29, for a total value of $577,729.59. Following the completion of the transaction, the insider now owns 105,092 shares of the company’s stock, valued at $1,396,672.68. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Domo news, major shareholder Joshua G. James sold 43,471 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $13.29, for a total value of $577,729.59. Following the completion of the transaction, the insider now owns 105,092 shares of the company’s stock, valued at $1,396,672.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Joshua G. James sold 12,854 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $14.72, for a total transaction of $189,210.88. Following the transaction, the insider now directly owns 229,156 shares of the company’s stock, valued at approximately $3,373,176.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,620 shares of company stock valued at $1,506,867. Insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Domo by 713.3% in the third quarter. CWM LLC now owns 1,651 shares of the company’s stock valued at $30,000 after buying an additional 1,448 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Domo by 90.1% in the first quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock valued at $78,000 after purchasing an additional 740 shares during the period. Royal Bank of Canada grew its position in shares of Domo by 15.5% in the third quarter. Royal Bank of Canada now owns 5,975 shares of the company’s stock valued at $107,000 after purchasing an additional 802 shares during the period. Penserra Capital Management LLC grew its position in shares of Domo by 50.0% in the first quarter. Penserra Capital Management LLC now owns 2,526 shares of the company’s stock valued at $127,000 after purchasing an additional 842 shares during the period. Finally, Barclays PLC grew its position in shares of Domo by 12.4% in the third quarter. Barclays PLC now owns 7,367 shares of the company’s stock valued at $132,000 after purchasing an additional 813 shares during the period. Hedge funds and other institutional investors own 71.40% of the company’s stock.

Domo Company Profile

(Get Rating)

Domo, Inc designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. The company was founded by Joshua G. James in September 2010 and is headquartered in American Fork, UT.

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