Brokerages Set Domo, Inc. (NASDAQ:DOMO) PT at $6.92

Domo, Inc. (NASDAQ:DOMO) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.9167.

DOMO has been the topic of a number of recent research reports. Cantor Fitzgerald dropped their target price on Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Stephens dropped their target price on Domo from $18.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. TD Cowen dropped their target price on Domo from $16.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. DA Davidson dropped their target price on Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Domo in a research report on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DOMO. RPD Fund Management LLC lifted its holdings in Domo by 11,294.3% in the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock valued at $30,545,000 after acquiring an additional 3,591,600 shares during the period. Capital Research Global Investors acquired a new position in Domo in the third quarter valued at approximately $43,560,000. Portolan Capital Management LLC lifted its holdings in Domo by 142.3% in the third quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock valued at $42,526,000 after acquiring an additional 1,576,884 shares during the period. Captrust Financial Advisors acquired a new position in Domo in the fourth quarter valued at approximately $8,108,000. Finally, First Trust Advisors LP acquired a new position in Domo in the third quarter valued at approximately $9,744,000. 76.64% of the stock is owned by institutional investors and hedge funds.

Domo Stock Performance

Shares of DOMO stock opened at $3.44 on Thursday. Domo has a fifty-two week low of $2.39 and a fifty-two week high of $18.49. The firm has a market capitalization of $155.32 million, a price-to-earnings ratio of -2.37 and a beta of 1.74. The stock’s 50-day simple moving average is $3.60 and its 200-day simple moving average is $6.79.

Domo (NASDAQ:DOMO) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The firm had revenue of $79.63 million during the quarter, compared to analyst estimates of $78.65 million. The business’s revenue for the quarter was up 1% on a year-over-year basis. As a group, equities analysts forecast that Domo will post -1.43 earnings per share for the current year.

About Domo

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.