Domo (NASDAQ:DOMO) Price Target Increased to $35.00 by Analysts at Needham & Company LLC

Domo (NASDAQ:DOMO) had its target price hoisted by investment analysts at Needham & Company LLC from $34.00 to $35.00 in a report released on Friday, Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 49.64% from the company’s previous close.

A number of other brokerages also recently weighed in on DOMO. ValuEngine downgraded shares of Domo from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Credit Suisse Group cut shares of Domo from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $20.00 in a research note on Friday, September 6th. Cowen decreased their target price on Domo from $52.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. JMP Securities lowered their price target on Domo from $47.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Friday, September 6th. Finally, Zacks Investment Research cut Domo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.14.

Shares of NASDAQ DOMO traded up $3.89 during trading hours on Friday, hitting $23.39. 5,017,802 shares of the company’s stock were exchanged, compared to its average volume of 757,589. Domo has a 1-year low of $14.80 and a 1-year high of $47.08. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $643.32 million, a price-to-earnings ratio of -2.48 and a beta of 0.85. The company’s 50-day moving average price is $17.27 and its 200-day moving average price is $23.39.

Domo (NASDAQ:DOMO) last released its earnings results on Thursday, December 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.01) by $0.16. Domo had a negative return on equity of 403.37% and a negative net margin of 81.35%. The firm had revenue of $44.80 million for the quarter, compared to analyst estimates of $41.81 million. During the same quarter last year, the firm posted ($1.06) EPS. The company’s revenue was up 21.7% on a year-over-year basis. On average, research analysts expect that Domo will post -4.7 earnings per share for the current year.

In other Domo news, CEO Joshua G. James acquired 60,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $17.00 per share, for a total transaction of $1,020,000.00. Insiders own 21.97% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in shares of Domo during the 3rd quarter valued at $1,888,000. Voloridge Investment Management LLC raised its holdings in Domo by 13.2% during the third quarter. Voloridge Investment Management LLC now owns 53,608 shares of the company’s stock worth $857,000 after buying an additional 6,243 shares during the last quarter. Sylebra Capital Ltd raised its holdings in Domo by 5.6% during the third quarter. Sylebra Capital Ltd now owns 2,707,292 shares of the company’s stock worth $43,263,000 after buying an additional 144,603 shares during the last quarter. Barclays PLC lifted its stake in shares of Domo by 126.0% in the third quarter. Barclays PLC now owns 42,035 shares of the company’s stock valued at $671,000 after buying an additional 23,436 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Domo by 2.5% in the third quarter. California State Teachers Retirement System now owns 27,276 shares of the company’s stock valued at $436,000 after buying an additional 677 shares in the last quarter. Institutional investors and hedge funds own 64.32% of the company’s stock.

Domo Company Profile

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.

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Analyst Recommendations for Domo (NASDAQ:DOMO)

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