Cantor Fitzgerald Reiterates Overweight Rating for Domo (NASDAQ:DOMO)

Domo (NASDAQ:DOMO)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 32.69% from the company’s current price.

A number of other analysts have also recently weighed in on DOMO. Morgan Stanley increased their price target on Domo from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. Lake Street Capital lowered their price target on shares of Domo from $9.50 to $8.50 and set a “hold” rating for the company in a research report on Friday, March 7th. TD Cowen lifted their price objective on shares of Domo from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 29th. Cowen reissued a “hold” rating on shares of Domo in a research note on Friday, March 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $16.00 price target on shares of Domo in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.42.

Domo Stock Performance

Shares of NASDAQ DOMO opened at $8.29 on Thursday. The company has a market capitalization of $324.21 million, a price-to-earnings ratio of -3.79 and a beta of 2.56. Domo has a twelve month low of $6.11 and a twelve month high of $10.15. The business has a 50 day simple moving average of $8.08 and a 200-day simple moving average of $7.91.

Domo (NASDAQ:DOMO) last released its earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The business had revenue of $78.77 million for the quarter, compared to analysts’ expectations of $77.95 million. As a group, equities analysts predict that Domo will post -2.1 earnings per share for the current year.

Insider Buying and Selling at Domo

In other Domo news, Director David R. Jolley sold 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.04% of the stock is owned by corporate insiders.

Institutional Trading of Domo

A number of hedge funds and other institutional investors have recently modified their holdings of DOMO. Pilgrim Partners Asia Pte Ltd acquired a new position in Domo during the fourth quarter worth about $47,000. R Squared Ltd purchased a new stake in shares of Domo during the fourth quarter valued at $56,000. Riggs Capital Management LLC purchased a new stake in shares of Domo during the fourth quarter valued at $85,000. XTX Topco Ltd acquired a new position in shares of Domo in the 3rd quarter valued at $97,000. Finally, SG Americas Securities LLC raised its holdings in Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock worth $99,000 after buying an additional 2,247 shares during the period. 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.