Domo (DOMO) Price Target Raised to $47.00
Domo (NASDAQ:DOMO) had its price target hoisted by JMP Securities from $35.00 to $47.00 in a research note released on Thursday morning, The Fly reports. The firm currently has an outperform rating on the stock.
Several other research firms have also recently weighed in on DOMO. Morgan Stanley increased their target price on shares of Domo from $29.00 to $38.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Zacks Investment Research cut shares of Domo from a hold rating to a sell rating in a research note on Friday, January 11th. Needham & Company LLC initiated coverage on shares of Domo in a research note on Monday, January 14th. They issued a buy rating and a $27.00 target price for the company. Finally, Credit Suisse Group increased their target price on shares of Domo from $27.00 to $40.00 and gave the company an outperform rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Domo has a consensus rating of Buy and a consensus price target of $32.13.
DOMO stock opened at $41.71 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.47. Domo has a 52-week low of $13.28 and a 52-week high of $41.85.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOMO. Wells Fargo & Company MN bought a new stake in shares of Domo in the third quarter valued at about $180,000. Meeder Asset Management Inc. bought a new stake in shares of Domo in the third quarter valued at about $113,000. Toronto Dominion Bank acquired a new position in Domo in the third quarter worth about $1,394,000. Alliancebernstein L.P. raised its position in Domo by 293.3% in the third quarter. Alliancebernstein L.P. now owns 295,000 shares of the company’s stock worth $6,328,000 after purchasing an additional 220,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Domo by 46.7% in the third quarter. Bank of New York Mellon Corp now owns 20,908 shares of the company’s stock worth $448,000 after purchasing an additional 6,654 shares in the last quarter. Institutional investors and hedge funds own 65.56% of the company’s stock.
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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