Lake Street Capital Cuts Domo (NASDAQ:DOMO) Price Target to $8.50

Domo (NASDAQ:DOMO) had its target price trimmed by Lake Street Capital from $9.50 to $8.50 in a research report report published on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

DOMO has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Domo in a report on Friday. TD Cowen upped their target price on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 29th. DA Davidson initiated coverage on Domo in a research note on Friday. They set a “neutral” rating and a $8.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Domo currently has an average rating of “Hold” and a consensus target price of $10.08.

Domo Price Performance

NASDAQ DOMO opened at $8.18 on Friday. Domo has a 1-year low of $6.11 and a 1-year high of $11.25. The business has a 50 day simple moving average of $7.81 and a two-hundred day simple moving average of $7.88. The stock has a market capitalization of $319.90 million, a PE ratio of -3.74 and a beta of 2.56.

Domo (NASDAQ:DOMO) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.26). The company had revenue of $78.77 million for the quarter, compared to analysts’ expectations of $77.95 million. On average, analysts anticipate that Domo will post -2.1 EPS for the current fiscal year.

Institutional Trading of Domo

Several hedge funds and other institutional investors have recently bought and sold shares of DOMO. RPD Fund Management LLC bought a new position in shares of Domo in the 4th quarter worth $15,449,000. Ameriprise Financial Inc. raised its holdings in Domo by 9.4% in the fourth quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company’s stock worth $23,278,000 after purchasing an additional 282,943 shares in the last quarter. Parallax Volatility Advisers L.P. raised its holdings in 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 purchasing an additional 246,016 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Domo during the fourth quarter valued at about $1,586,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Domo in the 4th quarter valued at about $980,000. 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.