TD Cowen Raises Domo (NASDAQ:DOMO) Price Target to $10.00

Domo (NASDAQ:DOMO) had its price objective upped by research analysts at TD Cowen from $9.00 to $10.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential upside of 6.84% from the stock’s current price.

A number of other research firms have also weighed in on DOMO. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price target on shares of Domo in a research report on Friday, August 30th. DA Davidson raised their target price on shares of Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Domo has an average rating of “Hold” and a consensus target price of $9.80.

Domo Trading Up 0.9 %

Shares of DOMO opened at $9.36 on Friday. The firm has a market capitalization of $361.59 million, a P/E ratio of -4.33 and a beta of 2.43. The stock’s fifty day simple moving average is $8.09 and its 200 day simple moving average is $7.66. Domo has a twelve month low of $6.11 and a twelve month high of $12.23.

Domo (NASDAQ:DOMO) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.21. The business had revenue of $78.41 million during the quarter, compared to the consensus estimate of $76.60 million. During the same quarter last year, the firm posted ($0.44) earnings per share. Domo’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that Domo will post -2.31 earnings per share for the current year.

Insider Activity

In related news, CFO David R. Jolley acquired 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $6.99 per share, with a total value of $69,900.00. Following the completion of the transaction, the chief financial officer now owns 291,465 shares of the company’s stock, valued at approximately $2,037,340.35. This trade represents a 3.55 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 14.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Domo

Institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Domo by 51.1% during the second quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock worth $48,000 after acquiring an additional 2,100 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Domo during the 3rd quarter worth about $88,000. XTX Topco Ltd acquired a new stake in shares of Domo during the 3rd quarter valued at about $97,000. Rockwood Wealth Management LLC bought a new stake in shares of Domo in the 2nd quarter valued at approximately $104,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Domo in the 1st quarter valued at approximately $121,000. Institutional investors and hedge funds 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.