Lake Street Capital Boosts Domo (NASDAQ:DOMO) Price Target to $9.50

Domo (NASDAQ:DOMO) had its price objective upped by equities research analysts at Lake Street Capital from $8.00 to $9.50 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Lake Street Capital’s price target indicates a potential upside of 19.05% from the stock’s previous close.

A number of other research firms also recently weighed in on DOMO. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Domo in a research report on Friday. DA Davidson raised their price objective on Domo from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, TD Cowen upped their target price on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Domo presently has a consensus rating of “Hold” and an average price target of $10.10.

Domo Trading Down 18.1 %

NASDAQ:DOMO opened at $7.98 on Friday. The stock has a market cap of $308.27 million, a price-to-earnings ratio of -3.64 and a beta of 2.44. The stock has a 50-day moving average price of $8.33 and a two-hundred day moving average price of $7.74. Domo has a 1 year low of $6.11 and a 1 year high of $12.23.

Domo (NASDAQ:DOMO) last posted its earnings results on Thursday, December 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.27). The company had revenue of $79.68 million during the quarter, compared to analyst estimates of $77.56 million. Domo’s revenue was down .1% compared to the same quarter last year. Sell-side analysts forecast that Domo will post -2.31 earnings per share for the current year.

Institutional Investors Weigh In On Domo

A number of institutional investors and hedge funds have recently modified their holdings of DOMO. Barclays PLC increased its position in Domo by 56.8% during the third quarter. Barclays PLC now owns 79,611 shares of the company’s stock worth $598,000 after buying an additional 28,838 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Domo by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 759,353 shares of the company’s stock worth $5,704,000 after acquiring an additional 4,091 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Domo in the 3rd quarter valued at $181,000. XTX Topco Ltd bought a new stake in Domo in the 3rd quarter valued at $97,000. Finally, State Street Corp lifted its holdings in Domo by 2.6% during the 3rd quarter. State Street Corp now owns 750,371 shares of the company’s stock valued at $5,635,000 after purchasing an additional 19,361 shares during the last quarter. 76.64% of the stock is owned by institutional investors.

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.