Domo’s (DOMO) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Domo (NASDAQ:DOMO)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 34.64% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Morgan Stanley boosted their price target on Domo from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, March 13th. Lake Street Capital lowered their price objective on shares of Domo from $9.50 to $8.50 and set a “hold” rating for the company in a research report on Friday, March 7th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research note on Friday, December 6th. DA Davidson upgraded Domo to a “hold” rating in a research note on Monday, March 10th. Finally, Cowen restated a “hold” rating on shares of Domo in a research report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.42.

Domo Price Performance

DOMO traded down $0.10 during midday trading on Thursday, reaching $8.17. 27,822 shares of the company’s stock were exchanged, compared to its average volume of 354,310. The business’s 50-day moving average price is $8.03 and its 200 day moving average price is $7.90. The stock has a market capitalization of $319.51 million, a PE ratio of -3.72 and a beta of 2.56. Domo has a 1-year low of $6.11 and a 1-year high of $10.15.

Domo (NASDAQ:DOMO) last posted its earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.26). The company had revenue of $78.77 million during the quarter, compared to analysts’ expectations of $77.95 million. As a group, analysts expect that Domo will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling at Domo

In other news, Director David R. Jolley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the completion of the transaction, the director now directly owns 255,743 shares of the company’s stock, valued at approximately $2,125,224.33. This trade represents a 8.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.04% of the company’s stock.

Hedge Funds Weigh In On Domo

Several institutional investors have recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Domo during the 4th quarter valued at $47,000. R Squared Ltd acquired a new stake in shares of Domo in the fourth quarter valued at $56,000. Riggs Capital Management LLC bought a new position in shares of Domo in the fourth quarter valued at about $85,000. XTX Topco Ltd acquired a new position in Domo during the 3rd quarter worth about $97,000. Finally, SG Americas Securities LLC grew its holdings in Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock worth $99,000 after acquiring an additional 2,247 shares during the last quarter. 76.64% of the stock is owned by institutional investors.

Domo Company Profile

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.