Domo (NASDAQ:DOMO) Stock Rating Upgraded by Wall Street Zen

Domo (NASDAQ:DOMO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages have also weighed in on DOMO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Domo in a research report on Wednesday, January 21st. Lake Street Capital reduced their target price on Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday, March 11th. TD Cowen decreased their price target on Domo from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Citigroup cut Domo from an “outperform” rating to an “underperform” rating in a report on Friday, February 13th. Finally, Cantor Fitzgerald reduced their price objective on shares of Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.64.

Domo Trading Down 7.0%

Shares of DOMO opened at $3.57 on Friday. Domo has a 12-month low of $3.44 and a 12-month high of $18.49. The firm has a market capitalization of $149.23 million, a P/E ratio of -2.46 and a beta of 1.70. The firm has a 50-day moving average price of $4.94 and a 200 day moving average price of $9.79.

Domo (NASDAQ:DOMO) last issued its earnings results on Tuesday, March 10th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The business had revenue of $79.63 million for the quarter, compared to the consensus estimate of $78.65 million. The company’s quarterly revenue was up 1% compared to the same quarter last year. Equities research analysts predict that Domo will post -2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Domo by 25.8% in the 4th quarter. Invesco Ltd. now owns 77,028 shares of the company’s stock valued at $649,000 after buying an additional 15,809 shares during the period. Mackenzie Financial Corp boosted its holdings in Domo by 52.6% during the 4th quarter. Mackenzie Financial Corp now owns 197,417 shares of the company’s stock valued at $1,685,000 after acquiring an additional 68,007 shares during the period. Oxford Asset Management LLP acquired a new position in Domo in the 4th quarter valued at about $88,000. Man Group plc acquired a new position in Domo in the 4th quarter valued at about $286,000. Finally, RPD Fund Management LLC increased its stake in Domo by 11,294.3% during the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock worth $30,545,000 after purchasing an additional 3,591,600 shares during the period. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

Domo Company Profile

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.