Domo (DOMO) Shares Up 30.5% on Better-Than-Expected Earnings
Shares of Domo Inc (NASDAQ:DOMO) shot up 30.5% on Friday following a stronger than expected earnings report. The company traded as high as $20.49 and last traded at $20.40. 2,607,077 shares changed hands during mid-day trading, an increase of 367% from the average session volume of 557,700 shares. The stock had previously closed at $15.63.
The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.32. The business had revenue of $36.80 million for the quarter, compared to the consensus estimate of $34.98 million. The business’s quarterly revenue was up 30.0% on a year-over-year basis.
Several brokerages recently weighed in on DOMO. Zacks Investment Research downgraded Domo from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Credit Suisse Group upped their price objective on Domo from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Morgan Stanley upped their price objective on Domo from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Finally, JMP Securities upped their price objective on Domo from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.43.
The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.03.
About Domo (NASDAQ:DOMO)
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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