TD Cowen Raises Domo (NASDAQ:DOMO) Price Target to $9.00

Domo (NASDAQ:DOMO) had its target price raised by TD Cowen from $8.00 to $9.00 in a research note released on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts also recently issued reports on the company. Lake Street Capital downgraded Domo from a buy rating to a hold rating and reduced their price target for the stock from $15.00 to $8.00 in a research report on Friday, May 24th. JMP Securities reaffirmed a market outperform rating and set a $16.00 price target on shares of Domo in a research report on Tuesday, August 20th. Finally, Morgan Stanley reduced their price target on Domo from $13.00 to $7.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $9.60.

Domo Stock Performance

Shares of NASDAQ DOMO opened at $7.47 on Friday. The stock has a 50 day moving average price of $7.80 and a 200 day moving average price of $8.21. The firm has a market capitalization of $285.13 million, a price-to-earnings ratio of -3.56 and a beta of 2.45. Domo has a 52-week low of $6.11 and a 52-week high of $12.23.

Domo (NASDAQ:DOMO) last posted its earnings results on Thursday, August 29th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21. The company had revenue of $78.41 million for the quarter, compared to analysts’ expectations of $76.60 million. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.44) EPS. Analysts forecast that Domo will post -2.4 earnings per share for the current year.

Insider Activity at Domo

In other news, Director Daniel David Daniel III bought 150,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $6.87 per share, with a total value of $1,030,500.00. Following the transaction, the director now directly owns 561,400 shares in the company, valued at $3,856,818. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Daren Thayne sold 7,095 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $6.85, for a total value of $48,600.75. Following the transaction, the executive vice president now directly owns 406,663 shares of the company’s stock, valued at approximately $2,785,641.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel David Daniel III bought 150,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $6.87 per share, for a total transaction of $1,030,500.00. Following the completion of the transaction, the director now owns 561,400 shares in the company, valued at $3,856,818. The disclosure for this purchase can be found here. 14.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Domo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Domo by 161.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $27,000 after purchasing an additional 1,622 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Domo during the 1st quarter worth about $43,000. EntryPoint Capital LLC acquired a new stake in Domo during the 1st quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Domo by 58.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after purchasing an additional 2,212 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Domo by 51.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock worth $48,000 after purchasing an additional 2,100 shares during the period. 76.64% of the stock is owned by institutional investors and hedge funds.

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.