Domo (NASDAQ:DOMO) Now Covered by DA Davidson

DA Davidson began coverage on shares of Domo (NASDAQ:DOMO) in a research note published on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $8.00 target price on the stock.

DOMO has been the topic of several other research reports. TD Cowen boosted their price target on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 29th. Cantor Fitzgerald raised Domo to a “strong-buy” rating in a research note on Tuesday, February 25th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research note on Friday, December 6th. Finally, Lake Street Capital lifted their target price on shares of Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Domo has a consensus rating of “Hold” and a consensus target price of $10.08.

Domo Price Performance

Shares of NASDAQ DOMO opened at $8.18 on Friday. The company has a market cap of $319.90 million, a PE ratio of -3.74 and a beta of 2.56. The stock has a fifty day moving average price of $7.81 and a 200 day moving average price of $7.88. Domo has a 1-year low of $6.11 and a 1-year high of $11.25.

Domo (NASDAQ:DOMO) last issued 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 for the quarter, compared to analyst estimates of $77.95 million. Analysts anticipate that Domo will post -2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Domo

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

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.