Domo (NASDAQ:DOMO) Price Target Lowered to $7.00 at Morgan Stanley

Domo (NASDAQ:DOMO) had its price objective decreased by investment analysts at Morgan Stanley from $13.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 1.82% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Lake Street Capital lowered shares of Domo from a “buy” rating to a “hold” rating and dropped their price target for the company from $15.00 to $8.00 in a research report on Friday. TD Cowen dropped their price target on shares of Domo from $11.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, DA Davidson reissued a “neutral” rating and set a $10.00 price target on shares of Domo in a research report on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.60.

Domo Price Performance

Shares of NASDAQ DOMO opened at $7.13 on Friday. The stock has a market capitalization of $271.15 million, a P/E ratio of -3.40 and a beta of 2.35. The company has a 50-day moving average price of $8.14 and a 200-day moving average price of $9.43. Domo has a 1 year low of $7.02 and a 1 year high of $18.19.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.05). The firm had revenue of $80.18 million for the quarter, compared to analysts’ expectations of $79.46 million. As a group, equities research analysts anticipate that Domo will post -2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Domo news, CFO David R. Jolley sold 12,000 shares of Domo stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $8.50, for a total value of $102,000.00. Following the sale, the chief financial officer now owns 215,543 shares of the company’s stock, valued at $1,832,115.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO David R. Jolley sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $8.50, for a total value of $102,000.00. Following the sale, the chief financial officer now owns 215,543 shares of the company’s stock, valued at $1,832,115.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daren Thayne sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $9.04, for a total transaction of $203,400.00. Following the transaction, the executive vice president now directly owns 343,758 shares of the company’s stock, valued at approximately $3,107,572.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,056 shares of company stock valued at $1,911,367. Company insiders own 14.04% of the company’s stock.

Hedge Funds Weigh In On Domo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Domo by 161.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock valued at $27,000 after purchasing an additional 1,622 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Domo during the 1st quarter valued at $43,000. EntryPoint Capital LLC bought a new stake in Domo during the 1st quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Domo by 58.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock valued at $61,000 after buying an additional 2,212 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in Domo during the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.