DA Davidson Upgrades Domo (NASDAQ:DOMO) to “Hold”

Domo (NASDAQ:DOMO) was upgraded by stock analysts at DA Davidson to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of Domo in a research report on Friday, March 7th. Cowen reissued a “hold” rating on shares of Domo in a research note on Friday. Lake Street Capital dropped their price target on shares of Domo from $9.50 to $8.50 and set a “hold” rating for the company in a research note on Friday, March 7th. JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Domo in a research note on Friday, December 6th. Finally, TD Cowen upped their target price on shares of Domo from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 29th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.08.

Domo Stock Performance

NASDAQ:DOMO opened at $8.05 on Monday. The firm’s 50-day moving average is $7.84 and its 200-day moving average is $7.87. Domo has a 52-week low of $6.11 and a 52-week high of $10.15. The company has a market cap of $314.82 million, a price-to-earnings ratio of -3.68 and a beta of 2.56.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The firm had revenue of $78.77 million for the quarter, compared to the consensus estimate of $77.95 million. Equities analysts predict that Domo will post -2.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DOMO. Quest Partners LLC boosted its holdings in shares of Domo by 291.9% in the third quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock valued at $103,000 after buying an additional 10,204 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Domo by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,553 shares of the company’s stock worth $2,009,000 after purchasing an additional 18,069 shares during the last quarter. FMR LLC boosted its holdings in Domo by 20.6% during the third quarter. FMR LLC now owns 301,457 shares of the company’s stock worth $2,264,000 after purchasing an additional 51,494 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Domo by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock worth $308,000 after purchasing an additional 2,091 shares during the last quarter. Finally, Centiva Capital LP boosted its holdings in Domo by 38.1% during the third quarter. Centiva Capital LP now owns 24,749 shares of the company’s stock worth $186,000 after purchasing an additional 6,828 shares during the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.

Domo Company Profile

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.