Domo (NASDAQ:DOMO) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Domo (NASDAQ:DOMO) had its price objective lifted by equities research analysts at Morgan Stanley from $7.00 to $9.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 6.01% from the stock’s current price.

DOMO has been the subject of several other research reports. JMP Securities restated a “market outperform” rating and issued a $16.00 price target on shares of Domo in a research report on Friday, December 6th. Cowen restated a “hold” rating on shares of Domo in a report on Friday, March 7th. DA Davidson upgraded shares of Domo to a “hold” rating in a report on Monday, March 10th. TD Cowen raised 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of Domo in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.42.

Domo Stock Up 3.4 %

DOMO opened at $8.49 on Thursday. Domo has a fifty-two week low of $6.11 and a fifty-two week high of $10.15. The firm has a market cap of $332.03 million, a price-to-earnings ratio of -3.88 and a beta of 2.56. The company’s 50-day moving average price is $7.92 and its 200 day moving average price is $7.88.

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 analyst estimates of $77.95 million. Research analysts anticipate that Domo will post -2.1 earnings per share for the current year.

Insider Transactions at Domo

In other news, Director David R. Jolley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the completion of the transaction, the director now directly owns 255,743 shares of the company’s stock, valued at approximately $2,125,224.33. This trade represents a 8.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Domo

Several institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in shares of Domo by 127.0% in the fourth quarter. Mackenzie Financial Corp now owns 76,117 shares of the company’s stock worth $539,000 after acquiring an additional 42,581 shares during the last quarter. Connective Capital Management LLC acquired a new stake in shares of Domo during the 4th quarter worth approximately $315,000. Squarepoint Ops LLC acquired a new stake in shares of Domo during the 4th quarter worth approximately $127,000. RPD Fund Management LLC acquired a new stake in shares of Domo during the 4th quarter worth approximately $15,449,000. Finally, Occudo Quantitative Strategies LP grew its position in shares of Domo by 74.9% during the 4th quarter. Occudo Quantitative Strategies LP now owns 47,508 shares of the company’s stock worth $336,000 after buying an additional 20,339 shares during the period. 76.64% of the stock is owned by institutional investors.

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.