Domo (NASDAQ:DOMO) Price Target Raised to $20.00

Domo (NASDAQ:DOMO) had its price objective hoisted by JMP Securities from $16.00 to $20.00 in a research report released on Wednesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other research firms also recently weighed in on DOMO. Lake Street Capital reiterated a “hold” rating and set a $9.00 price target (up previously from $8.50) on shares of Domo in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Domo from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. DA Davidson lifted their target price on shares of Domo from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 price target on shares of Domo in a research report on Wednesday. Finally, Morgan Stanley dropped their price target on shares of Domo from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Domo has a consensus rating of “Hold” and an average target price of $12.17.

Domo Stock Up 0.1%

DOMO opened at $13.91 on Wednesday. Domo has a twelve month low of $6.01 and a twelve month high of $14.83. The company’s 50-day moving average price is $10.68 and its two-hundred day moving average price is $8.81. The stock has a market cap of $559.74 million, a price-to-earnings ratio of -7.36 and a beta of 1.84.

Domo (NASDAQ:DOMO) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The company had revenue of $80.11 million during the quarter, compared to the consensus estimate of $77.75 million. During the same period last year, the firm posted ($0.33) EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Domo will post -2.1 earnings per share for the current year.

Insider Activity at Domo

In other Domo news, Director Daniel David Daniel III acquired 120,000 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $6.44 per share, for a total transaction of $772,800.00. Following the acquisition, the director now owns 781,400 shares in the company, valued at $5,032,216. The trade was a 18.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joshua G. James acquired 13,025 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $12.74 per share, with a total value of $165,938.50. Following the purchase, the chief executive officer now directly owns 1,079,972 shares in the company, valued at $13,758,843.28. This represents a 1.22% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 210,325 shares of company stock valued at $1,441,189 over the last 90 days. 15.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Domo

A number of large investors have recently added to or reduced their stakes in DOMO. MetLife Investment Management LLC boosted its position in Domo by 9.5% during the first quarter. MetLife Investment Management LLC now owns 19,446 shares of the company’s stock valued at $151,000 after buying an additional 1,681 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Domo by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company’s stock valued at $622,000 after acquiring an additional 1,826 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Domo by 5.0% in the 1st quarter. Rhumbline Advisers now owns 49,557 shares of the company’s stock valued at $385,000 after acquiring an additional 2,369 shares during the last quarter. Diversify Wealth Management LLC boosted its holdings in Domo by 13.2% during the 1st quarter. Diversify Wealth Management LLC now owns 23,197 shares of the company’s stock valued at $176,000 after acquiring an additional 2,705 shares during the period. Finally, Barclays PLC grew its position in Domo by 3.7% during the 4th quarter. Barclays PLC now owns 82,573 shares of the company’s stock worth $584,000 after acquiring an additional 2,962 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

About Domo

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.