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

Domo (NASDAQ:DOMO) had its price target upped by investment analysts at TD Cowen from $9.00 to $10.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential upside of 6.38% from the company’s previous close.

DOMO has been the subject of several other research reports. DA Davidson raised their price objective on shares of Domo from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. JMP Securities restated a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a research report on Friday, August 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.80.

Domo Trading Up 1.3 %

Shares of Domo stock traded up $0.12 during mid-day trading on Friday, reaching $9.40. 30,777 shares of the stock were exchanged, compared to its average volume of 371,081. The company has a market cap of $363.12 million, a price-to-earnings ratio of -4.35 and a beta of 2.43. The firm has a 50-day simple moving average of $8.04 and a 200 day simple moving average of $7.65. Domo has a fifty-two week low of $6.11 and a fifty-two week high of $12.23.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, August 29th. The company reported ($0.07) earnings per share (EPS) 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 analyst estimates of $76.60 million. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.44) EPS. On average, research analysts predict that Domo will post -2.31 EPS for the current fiscal year.

Insider Activity

In other Domo news, CFO David R. Jolley bought 10,000 shares of Domo stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $6.99 per share, with a total value of $69,900.00. Following the purchase, the chief financial officer now owns 291,465 shares of the company’s stock, valued at $2,037,340.35. This trade represents a 3.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DOMO. Harbor Capital Advisors Inc. boosted its stake 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 acquiring an additional 2,100 shares during the last quarter. SG Americas Securities LLC bought a new position in Domo during the 3rd quarter worth approximately $88,000. XTX Topco Ltd bought a new position in Domo during the 3rd quarter worth approximately $97,000. Quest Partners LLC boosted its stake in Domo by 291.9% during the 3rd quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock worth $103,000 after acquiring an additional 10,204 shares during the last quarter. Finally, Rockwood Wealth Management LLC bought a new position in Domo during the 2nd quarter worth approximately $104,000. Institutional investors own 76.64% of the company’s stock.

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.