Domo (NASDAQ:DOMO) Given New $8.00 Price Target at DA Davidson

Domo (NASDAQ:DOMO) had its price objective upped by DA Davidson from $7.00 to $8.00 in a research report released on Friday morning, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other research firms have also issued reports on DOMO. JMP Securities reaffirmed a market outperform rating and issued a $16.00 price objective on shares of Domo in a research note on Friday. Morgan Stanley decreased their price target on Domo from $13.00 to $7.00 and set an equal weight rating for the company in a research note on Friday, May 24th. Lake Street Capital lowered Domo from a buy rating to a hold rating and decreased their price target for the stock from $15.00 to $8.00 in a research note on Friday, May 24th. Finally, TD Cowen raised their price target on Domo from $8.00 to $9.00 and gave the stock a hold rating in a research note on Friday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $9.60.

Domo Price Performance

NASDAQ:DOMO opened at $7.47 on Friday. 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 1 year low of $6.11 and a 1 year high of $12.23. The business has a 50 day simple moving average of $7.80 and a 200-day simple moving average of $8.21.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.21. The company had revenue of $78.41 million during 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 period in the previous year, the business earned ($0.44) earnings per share. As a group, analysts expect that Domo will post -2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Domo news, EVP Daren Thayne sold 7,095 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $6.85, for a total transaction of $48,600.75. Following the transaction, the executive vice president now directly owns 406,663 shares in the company, valued at approximately $2,785,641.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel David Daniel III purchased 150,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $1,003,500.00. Following the acquisition, the director now owns 411,400 shares of the company’s stock, valued at approximately $2,752,266. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daren Thayne sold 7,095 shares of Domo stock in a transaction on Friday, June 21st. The shares were sold at an average price of $6.85, for a total value of $48,600.75. Following the completion of the transaction, the executive vice president now owns 406,663 shares in the company, valued at $2,785,641.55. The disclosure for this sale can be found here. 14.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in shares of Domo by 192.5% in the 1st quarter. GSA Capital Partners LLP now owns 193,106 shares of the company’s stock valued at $1,723,000 after acquiring an additional 127,091 shares during the period. King Luther Capital Management Corp purchased a new position in shares of Domo in the 4th quarter valued at $1,133,000. Invenomic Capital Management LP increased its holdings in shares of Domo by 42.1% in the 1st quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock valued at $2,827,000 after acquiring an additional 93,858 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Domo by 43.8% in the 1st quarter. Acadian Asset Management LLC now owns 984,107 shares of the company’s stock valued at $8,775,000 after acquiring an additional 299,747 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Domo by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 4,826,254 shares of the company’s stock valued at $43,050,000 after acquiring an additional 108,200 shares during the period. 76.64% of the stock is currently owned by hedge funds and other 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.