Domo (NASDAQ:DOMO) Coverage Initiated at DA Davidson

DA Davidson initiated coverage on shares of Domo (NASDAQ:DOMO) in a report issued on Friday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $8.00 price target on the stock. DA Davidson’s price objective points to a potential downside of 2.20% from the stock’s current price.

A number of other brokerages also recently issued reports on DOMO. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price target on shares of Domo in a report on Friday, December 6th. Cantor Fitzgerald raised Domo to a “strong-buy” rating in a research report on Tuesday, February 25th. TD Cowen raised their price objective on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 29th. Finally, Lake Street Capital raised their price objective on Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Domo currently has a consensus rating of “Hold” and a consensus target price of $10.08.

Domo Trading Up 16.0 %

Shares of NASDAQ:DOMO opened at $8.18 on Friday. Domo has a 12-month low of $6.11 and a 12-month high of $11.25. The business’s fifty day simple moving average is $7.83 and its 200-day simple moving average is $7.87. The company has a market capitalization of $319.90 million, a PE ratio of -3.74 and a beta of 2.56.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.26). The firm had revenue of $78.77 million during the quarter, compared to analyst estimates of $77.95 million. Research analysts predict that Domo will post -2.1 EPS for the current year.

Institutional Trading of Domo

A number of institutional investors have recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd acquired a new stake in Domo during the 4th quarter worth about $47,000. R Squared Ltd acquired a new stake in Domo during the 4th quarter worth about $56,000. Riggs Capital Management LLC acquired a new stake in Domo during the 4th quarter worth about $85,000. XTX Topco Ltd acquired a new stake in Domo during the 3rd quarter worth about $97,000. Finally, SG Americas Securities LLC lifted its position in Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock worth $99,000 after acquiring an additional 2,247 shares during the period. 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.