Domo (DOMO) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Domo (NASDAQ:DOMO) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $47.00 target price on the stock.
According to Zacks, “Domo, Inc. designs and develops enterprise software. The Company offers a cloud-based executive management platform which gives users direct and real-time access to business information for industries including media and marketing, telecommunication, retail, travel and leisure, technology and financial services. Domo, Inc. is based in United States. “
Several other research analysts also recently commented on the stock. JMP Securities lifted their price target on shares of Domo from $35.00 to $47.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. Credit Suisse Group lifted their price target on shares of Domo from $27.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. Needham & Company LLC lifted their price target on shares of Domo from $27.00 to $37.00 and gave the stock a buy rating in a research note on Tuesday, March 12th. Finally, Morgan Stanley lifted their price target on shares of Domo from $29.00 to $38.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Domo currently has an average rating of Buy and an average target price of $35.00.
Domo (NASDAQ:DOMO) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.29. The business had revenue of $39.40 million for the quarter, compared to analysts’ expectations of $37.77 million. Domo’s revenue was up 30.9% compared to the same quarter last year. Research analysts forecast that Domo will post -4.71 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of DOMO. American International Group Inc. purchased a new position in shares of Domo in the third quarter worth $114,000. Bank of America Corp DE increased its stake in shares of Domo by 420.3% in the fourth quarter. Bank of America Corp DE now owns 8,809 shares of the company’s stock worth $173,000 after buying an additional 7,116 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Domo in the fourth quarter worth $177,000. Wells Fargo & Company MN purchased a new position in shares of Domo in the third quarter worth $180,000. Finally, Rhumbline Advisers purchased a new position in shares of Domo in the fourth quarter worth $196,000. 65.56% of the stock is currently owned by institutional investors.
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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