Domo (NASDAQ:DOMO) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Domo (NASDAQ:DOMO) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other brokerages have also commented on DOMO. Cantor Fitzgerald cut their price target on Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 11th. TD Cowen lowered their price objective on Domo from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, February 20th. DA Davidson dropped their price objective on shares of Domo from $10.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Lake Street Capital reduced their target price on shares of Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, March 11th. Finally, Citigroup cut shares of Domo from an “outperform” rating to an “underperform” rating in a research report on Friday, February 13th. One equities research 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.64.

Domo Stock Performance

Shares of NASDAQ:DOMO opened at $3.06 on Friday. The company has a fifty day moving average of $4.47 and a 200-day moving average of $9.18. The company has a market capitalization of $127.91 million, a PE ratio of -2.11 and a beta of 1.70. Domo has a 52-week low of $2.90 and a 52-week 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 company had revenue of $79.63 million during the quarter, compared to the consensus estimate of $78.65 million. The business’s quarterly revenue was up 1% on a year-over-year basis. On average, equities analysts forecast that Domo will post -2.1 EPS for the current fiscal year.

Institutional Trading of Domo

A number of large investors have recently bought and sold shares of the business. Portolan Capital Management LLC lifted its stake in shares of Domo by 142.3% in the 3rd quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock valued at $42,526,000 after purchasing an additional 1,576,884 shares during the period. Capital Research Global Investors bought a new stake in shares of Domo during the 3rd quarter valued at about $43,560,000. Marshall Wace LLP grew its stake in Domo by 2,255.4% during the second quarter. Marshall Wace LLP now owns 771,737 shares of the company’s stock worth $10,781,000 after purchasing an additional 738,973 shares during the period. Global Wealth Strategies & Associates acquired a new stake in Domo during the fourth quarter worth approximately $28,000. Finally, Firsthand Capital Management Inc. increased its holdings in Domo by 8.7% in the third quarter. Firsthand Capital Management Inc. now owns 250,000 shares of the company’s stock worth $3,960,000 after purchasing an additional 20,000 shares in the last quarter. 76.64% of the stock is currently 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.