TD Cowen Issues Positive Forecast for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO) had its price target lifted by TD Cowen from $9.00 to $10.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research firms also recently weighed in on DOMO. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Domo in a report on Friday, August 30th. DA Davidson lifted their price objective on shares of Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.80.

Domo Stock Performance

Shares of DOMO opened at $9.36 on Friday. The firm has a market cap of $361.58 million, a P/E ratio of -4.33 and a beta of 2.43. Domo has a 52 week low of $6.11 and a 52 week high of $12.23. The firm’s 50-day simple moving average is $8.04 and its 200 day simple moving average is $7.65.

Domo (NASDAQ:DOMO) last announced 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 firm had revenue of $78.41 million for the quarter, compared to the consensus estimate of $76.60 million. Domo’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. As a group, equities analysts forecast that Domo will post -2.31 earnings per share for the current year.

Insider Transactions at Domo

In related news, CFO David R. Jolley purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $6.99 per share, with a total value of $69,900.00. Following the completion of the purchase, the chief financial officer now directly owns 291,465 shares in the company, valued at $2,037,340.35. This trade represents a 3.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Domo

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Domo by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock worth $308,000 after acquiring an additional 2,091 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Domo by 51.1% during the second quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock valued at $48,000 after purchasing an additional 2,100 shares in the last quarter. Geode Capital Management LLC lifted its stake in Domo by 0.5% during the third quarter. Geode Capital Management LLC now owns 759,353 shares of the company’s stock worth $5,704,000 after purchasing an additional 4,091 shares during the last quarter. Centiva Capital LP boosted its holdings in shares of Domo by 38.1% in the 3rd quarter. Centiva Capital LP now owns 24,749 shares of the company’s stock valued at $186,000 after purchasing an additional 6,828 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Domo by 7.5% in the 2nd quarter. Sei Investments Co. now owns 103,809 shares of the company’s stock valued at $801,000 after purchasing an additional 7,222 shares during the last quarter. 76.64% of the stock is owned by institutional investors.

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.