Domo (NASDAQ:DOMO) Price Target Raised to $12.00

Domo (NASDAQ:DOMO) had its target price increased by Cantor Fitzgerald from $11.00 to $12.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the company. Lake Street Capital lowered their target price on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research report on Friday, March 7th. DA Davidson raised Domo to a “hold” rating in a research report on Monday, March 10th. Morgan Stanley lowered their target price on Domo from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Cowen reaffirmed a “hold” rating on shares of Domo in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.67.

Domo Stock Performance

Shares of DOMO opened at $11.35 on Thursday. Domo has a 52-week low of $6.01 and a 52-week high of $11.68. The business’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $8.08. The firm has a market cap of $453.32 million, a PE ratio of -5.18 and a beta of 1.67.

Domo (NASDAQ:DOMO) last issued its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.10. The business had revenue of $80.11 million during the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the firm posted ($0.33) earnings per share. Domo’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts predict that Domo will post -2.1 EPS for the current fiscal year.

Insider Activity at Domo

In related news, CEO Joshua G. James purchased 77,300 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $6.50 per share, with a total value of $502,450.00. Following the transaction, the chief executive officer now owns 116,600 shares of the company’s stock, valued at $757,900. This represents a 196.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David R. Jolley sold 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $8.31, for a total value of $207,750.00. Following the completion of 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 position. The disclosure for this sale can be found here. 14.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Domo

Several large investors have recently made changes to their positions in the business. MetLife Investment Management LLC increased its position in shares of Domo by 9.5% during the 1st quarter. MetLife Investment Management LLC now owns 19,446 shares of the company’s stock valued at $151,000 after purchasing an additional 1,681 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Domo by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company’s stock valued at $622,000 after purchasing an additional 1,826 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock valued at $99,000 after purchasing an additional 2,247 shares during the last quarter. Rhumbline Advisers increased its position in shares of Domo by 5.0% during the 1st quarter. Rhumbline Advisers now owns 49,557 shares of the company’s stock valued at $385,000 after purchasing an additional 2,369 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its position in shares of Domo by 13.2% during the 1st quarter. Diversify Wealth Management LLC now owns 23,197 shares of the company’s stock valued at $176,000 after purchasing an additional 2,705 shares during the last quarter. 76.64% of the stock is 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.