Domo (NASDAQ:DOMO) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Domo (NASDAQ:DOMO) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $11.00 price objective on the stock.

Several other equities analysts have also issued reports on DOMO. DA Davidson upgraded Domo to a “hold” rating in a research note on Monday, March 10th. TD Cowen boosted their price objective 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. JMP Securities restated a “market outperform” rating and issued a $16.00 target price on shares of Domo in a research note on Friday, December 6th. Morgan Stanley increased their price objective on Domo from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, March 13th. Finally, Lake Street Capital reduced their target price on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.42.

Domo Price Performance

NASDAQ:DOMO opened at $8.29 on Thursday. Domo has a 1-year low of $6.11 and a 1-year high of $10.15. The company has a 50-day moving average of $8.05 and a 200 day moving average of $7.90. The firm has a market cap of $324.21 million, a PE ratio of -3.79 and a beta of 2.56.

Domo (NASDAQ:DOMO) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $77.95 million. Sell-side analysts anticipate that Domo will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling at Domo

In related news, Director David R. Jolley sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total value of $207,750.00. Following the sale, the director now owns 255,743 shares in the company, valued at $2,125,224.33. This represents a 8.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.04% of the company’s stock.

Institutional Trading of Domo

Several large investors have recently made changes to their positions in the business. Quest Partners LLC raised its holdings in shares of Domo by 291.9% during the third quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock worth $103,000 after purchasing an additional 10,204 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Domo by 7.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,553 shares of the company’s stock valued at $2,009,000 after buying an additional 18,069 shares during the last quarter. FMR LLC raised its stake in shares of Domo by 20.6% during the 3rd quarter. FMR LLC now owns 301,457 shares of the company’s stock valued at $2,264,000 after buying an additional 51,494 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Domo by 5.4% in the 3rd 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 period. Finally, Centiva Capital LP boosted its stake in shares of Domo by 38.1% in the third quarter. Centiva Capital LP now owns 24,749 shares of the company’s stock worth $186,000 after buying an additional 6,828 shares during the last quarter. 76.64% of the stock is owned by hedge funds and other 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.