Domo (NASDAQ:DOMO) Price Target Raised to $9.00 at Morgan Stanley

Domo (NASDAQ:DOMO) had its target price boosted by equities research analysts at Morgan Stanley from $7.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 10.52% from the stock’s previous close.

Several other equities analysts also recently weighed in on DOMO. TD Cowen raised their price target on shares of Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of Domo in a research note on Friday, March 7th. 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 reaffirmed a “hold” rating on shares of Domo in a report on Friday, March 7th. Finally, Lake Street Capital lowered their price objective on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.42.

Domo Price Performance

Domo stock traded down $0.43 during midday trading on Thursday, reaching $8.14. The company had a trading volume of 186,575 shares, compared to its average volume of 331,813. Domo has a 12-month low of $6.11 and a 12-month high of $10.15. The company has a market capitalization of $318.46 million, a P/E ratio of -3.72 and a beta of 2.56. The firm’s fifty day simple moving average is $7.89 and its 200-day simple moving average is $7.88.

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 firm had revenue of $78.77 million during the quarter, compared to analyst estimates of $77.95 million. On average, analysts expect that Domo will post -2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Domo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOMO. Bank of New York Mellon Corp grew its holdings in shares of Domo by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company’s stock worth $622,000 after purchasing an additional 1,826 shares during the period. BNP Paribas Financial Markets lifted its position in Domo by 5.4% in the third quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock valued at $308,000 after buying an additional 2,091 shares during the last quarter. SG Americas Securities LLC boosted its stake in Domo by 19.1% during the fourth 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. Barclays PLC increased its position in shares of Domo by 3.7% during the fourth quarter. Barclays PLC now owns 82,573 shares of the company’s stock valued at $584,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Domo by 29.2% in the 4th quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock worth $125,000 after acquiring an additional 4,000 shares during the last quarter. 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.