TD Cowen Issues Positive Forecast for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO) had its price objective boosted by research analysts at TD Cowen from $9.00 to $10.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 6.38% from the stock’s previous close.

Several other equities research analysts also recently issued reports on DOMO. JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research report on Friday, August 30th. DA Davidson increased their target price on shares of Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Domo has an average rating of “Hold” and an average price target of $9.80.

Domo Trading Up 1.3 %

Shares of DOMO stock traded up $0.12 during trading hours on Friday, hitting $9.40. 30,777 shares of the company were exchanged, compared to its average volume of 371,081. The business has a 50 day moving average of $8.04 and a two-hundred day moving average of $7.65. Domo has a 52 week low of $6.11 and a 52 week high of $12.23. The company has a market capitalization of $363.12 million, a PE ratio of -4.35 and a beta of 2.43.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Thursday, August 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.21. The company had revenue of $78.41 million for the quarter, compared to the consensus estimate of $76.60 million. During the same period in the prior year, the company earned ($0.44) EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that Domo will post -2.31 EPS for the current year.

Insider Buying and Selling

In other news, CFO David R. Jolley purchased 10,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $6.99 per share, for a total transaction of $69,900.00. Following the completion of the purchase, the chief financial officer now directly owns 291,465 shares in the company, valued at $2,037,340.35. The trade was a 3.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Domo

Large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Domo by 51.1% in the second quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock valued at $48,000 after acquiring an additional 2,100 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Domo during the 3rd quarter worth about $88,000. XTX Topco Ltd acquired a new stake in shares of Domo during the 3rd quarter worth about $97,000. Rockwood Wealth Management LLC acquired a new stake in shares of Domo during the 2nd quarter worth about $104,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Domo during the 1st quarter worth about $121,000. 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.