Domo (NASDAQ:DOMO) Rating Increased to Buy at Wall Street Zen

Domo (NASDAQ:DOMO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Domo in a report on Wednesday, January 21st. DA Davidson dropped their price objective on shares of Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Lake Street Capital cut their price objective on shares of Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday, March 11th. Cantor Fitzgerald reduced their target price on shares of Domo from $13.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Finally, Citigroup cut Domo from an “outperform” rating to an “underperform” rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Domo has a consensus rating of “Hold” and an average price target of $8.64.

Domo Price Performance

NASDAQ DOMO opened at $3.57 on Friday. Domo has a one year low of $3.44 and a one year high of $18.49. The firm has a market cap of $149.22 million, a P/E ratio of -2.46 and a beta of 1.70. The stock’s 50-day moving average is $4.94 and its 200-day moving average is $9.85.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.16). The company had revenue of $79.63 million during the quarter, compared to analyst estimates of $78.65 million. Domo’s revenue for the quarter was up 1% compared to the same quarter last year. Equities analysts anticipate that Domo will post -2.1 EPS for the current year.

Institutional Trading of Domo

A number of hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Domo during the 3rd quarter worth approximately $25,000. Global Wealth Strategies & Associates acquired a new position in shares of Domo during the 4th quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in Domo in the 2nd quarter valued at $42,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Domo during the 3rd quarter valued at $70,000. Finally, Andina Capital Management LLC acquired a new stake in Domo during the 4th quarter valued at $84,000. 76.64% of the stock is owned by institutional investors and hedge funds.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.