Domo (NASDAQ:DOMO) Price Target Cut to $6.00 by Analysts at TD Cowen

Domo (NASDAQ:DOMO) had its price objective lowered by stock analysts at TD Cowen from $9.00 to $6.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 74.17% from the stock’s current price.

DOMO has been the subject of several other reports. Citizens Jmp restated an “underperform” rating and set a $3.50 target price on shares of Domo in a research report on Friday, February 13th. Wall Street Zen cut Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Cantor Fitzgerald cut their price objective on Domo from $13.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. Stephens cut their price objective on Domo from $18.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Finally, DA Davidson cut their price objective on Domo from $10.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Domo currently has a consensus rating of “Hold” and an average target price of $6.42.

Domo Stock Up 1.0%

Shares of NASDAQ:DOMO traded up $0.04 during midday trading on Monday, reaching $3.45. 166,829 shares of the company traded hands, compared to its average volume of 1,478,727. Domo has a 12 month low of $2.39 and a 12 month high of $18.49. The firm has a market capitalization of $155.53 million, a price-to-earnings ratio of -2.38 and a beta of 1.78. The firm’s fifty day moving average price is $3.49 and its two-hundred day moving average price is $5.66.

Domo (NASDAQ:DOMO) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The company had revenue of $79.63 million during the quarter, compared to the consensus estimate of $78.65 million. The business’s revenue for the quarter was up 1% compared to the same quarter last year. Analysts forecast that Domo will post -1.43 earnings per share for the current year.

Insider Activity

In related news, insider Rpd Fund Management Llc sold 1,100,900 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $2.56, for a total value of $2,818,304.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 1,350,626 shares of company stock valued at $3,785,484. 15.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Domo

Several institutional investors have recently added to or reduced their stakes in DOMO. RPD Fund Management LLC boosted its stake in shares of Domo by 11,294.3% in the 4th quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock worth $30,545,000 after buying an additional 3,591,600 shares during the last quarter. Capital Research Global Investors purchased a new position in Domo during the third quarter valued at $43,560,000. Portolan Capital Management LLC lifted its position in Domo by 142.3% during the third quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock valued at $42,526,000 after purchasing an additional 1,576,884 shares in the last quarter. Captrust Financial Advisors purchased a new position in Domo during the fourth quarter valued at $8,108,000. Finally, First Trust Advisors LP purchased a new position in Domo during the third quarter valued at $9,744,000. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.