Domo (NASDAQ:DOMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm currently has a $19.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.31% from the stock’s current price.

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. “

A number of other research firms also recently issued reports on DOMO. JMP Securities decreased their target price on Domo from $47.00 to $37.00 and set a “market outperform” rating for the company in a research report on Friday, September 6th. Morgan Stanley set a $47.00 price target on Domo and gave the company a “buy” rating in a research report on Friday, June 7th. UBS Group dropped their price target on Domo from $28.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday. Cowen cut their price target on Domo from $52.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Finally, Credit Suisse Group lowered Domo from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $20.00 in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.00.

DOMO stock traded down $0.05 during mid-day trading on Wednesday, hitting $17.07. The company had a trading volume of 2,013,446 shares, compared to its average volume of 815,920. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $436.57 million, a PE ratio of -1.81 and a beta of 0.86. Domo has a 12 month low of $13.28 and a 12 month high of $47.08. The stock’s fifty day moving average price is $24.96 and its two-hundred day moving average price is $32.02.

Domo (NASDAQ:DOMO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.23) by $0.27. Domo had a negative net margin of 81.35% and a negative return on equity of 291.36%. The company had revenue of $41.70 million during the quarter, compared to analyst estimates of $41.68 million. During the same quarter last year, the business posted ($3.44) EPS. Domo’s quarterly revenue was up 21.6% compared to the same quarter last year. Equities analysts anticipate that Domo will post -4.82 earnings per share for the current year.

In other Domo news, CEO Joshua G. James purchased 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $1,020,000.00. Corporate insiders own 21.97% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC bought a new stake in Domo during the 2nd quarter valued at $135,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Domo in the second quarter valued at $5,497,000. Royal Bank of Canada purchased a new position in shares of Domo in the second quarter valued at $94,000. Voloridge Investment Management LLC raised its stake in shares of Domo by 459.5% during the 2nd quarter. Voloridge Investment Management LLC now owns 47,365 shares of the company’s stock valued at $1,294,000 after purchasing an additional 38,899 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of Domo during the 2nd quarter valued at $4,592,000. Institutional investors and hedge funds own 64.17% 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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