Analysts Set Domo, Inc. (NASDAQ:DOMO) Target Price at $10.08

Shares of Domo, Inc. (NASDAQ:DOMO) have been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $10.42.

Several analysts have issued reports on DOMO shares. TD Cowen raised their price target on shares of Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 29th. Morgan Stanley lifted their target price on Domo from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday. Cowen restated a “hold” rating on shares of Domo in a research note on Friday, March 7th. DA Davidson upgraded Domo to a “hold” rating in a research report on Monday, March 10th. Finally, Lake Street Capital lowered their price objective on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research report on Friday, March 7th.

Domo Trading Up 3.4 %

Shares of Domo stock opened at $8.49 on Friday. The firm has a fifty day simple moving average of $7.92 and a 200-day simple moving average of $7.88. The stock has a market capitalization of $332.03 million, a price-to-earnings ratio of -3.88 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 announced its earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate 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, research analysts predict that Domo will post -2.1 earnings per share for the current year.

Insider Buying and Selling at Domo

In other news, Director David R. Jolley sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total value of $207,750.00. Following the transaction, the director now directly owns 255,743 shares of the company’s stock, valued at $2,125,224.33. The trade was a 8.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 14.04% of the company’s stock.

Hedge Funds Weigh In On Domo

A number of institutional investors and hedge funds have recently bought and sold shares of the business. RPD Fund Management LLC bought a new position in shares of Domo in the fourth quarter valued at about $15,449,000. Ameriprise Financial Inc. increased its position in Domo by 9.4% in the 4th quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company’s stock valued at $23,278,000 after acquiring an additional 282,943 shares in the last quarter. Parallax Volatility Advisers L.P. raised its stake in shares of Domo by 113.9% in the third quarter. Parallax Volatility Advisers L.P. now owns 29,990 shares of the company’s stock worth $225,000 after acquiring an additional 246,016 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Domo during the fourth quarter worth approximately $1,586,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Domo during the fourth quarter valued at approximately $980,000. Institutional investors and hedge funds own 76.64% of the company’s stock.

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.