Wall Street Zen Downgrades Domo (NASDAQ:DOMO) to Hold

Domo (NASDAQ:DOMO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other research analysts have also recently issued research reports about the stock. Citizens Jmp reiterated an “underperform” rating and issued a $3.50 price target on shares of Domo in a report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Domo in a research report on Wednesday, January 21st. Citigroup lowered shares of Domo from an “outperform” rating to an “underperform” rating in a research note on Friday, February 13th. DA Davidson lowered their target price on Domo from $10.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Finally, TD Cowen dropped their price target on Domo from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.64.

Domo Trading Down 6.3%

DOMO stock opened at $3.10 on Friday. The firm has a market cap of $129.58 million, a P/E ratio of -2.14 and a beta of 1.70. The business’s 50 day moving average is $4.59 and its 200-day moving average is $9.42. Domo has a 1-year low of $3.06 and a 1-year high of $18.49.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in Domo by 3.7% in the 2nd quarter. Franklin Resources Inc. now owns 23,759 shares of the company’s stock valued at $332,000 after acquiring an additional 854 shares during the period. State of Alaska Department of Revenue acquired a new stake in Domo during the third quarter worth approximately $25,000. Brevan Howard Capital Management LP boosted its holdings in shares of Domo by 3.9% during the third quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company’s stock worth $804,000 after acquiring an additional 1,924 shares during the period. Verition Fund Management LLC grew its position in shares of Domo by 8.1% in the fourth quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock valued at $302,000 after purchasing an additional 2,679 shares during the last quarter. Finally, Creative Planning grew its position in shares of Domo by 23.2% in the second quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after purchasing an additional 2,889 shares during the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.

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.