Lake Street Capital Has Lowered Expectations for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO - Get Free Report) had its price target dropped by equities researchers at Lake Street Capital from $9.50 to $8.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Lake Street Capital's price target suggests a potential upside of 3.91% from the company's previous close.

Several other equities analysts also recently weighed in on DOMO. DA Davidson assumed coverage on Domo in a research report on Friday. They set a "neutral" rating and a $8.00 target price on the stock. JMP Securities reissued a "market outperform" rating and set a $16.00 price target on shares of Domo in a report on Friday, December 6th. TD Cowen raised their price target on Domo from $9.00 to $10.00 and gave the company a "hold" rating in a report on Friday, November 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 target price on shares of Domo in a report on Friday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.08.

Domo Trading Up 16.0 %

DOMO stock traded up $1.13 on Friday, hitting $8.18. The company had a trading volume of 942,033 shares, compared to its average volume of 326,728. Domo has a 12-month low of $6.11 and a 12-month high of $11.25. The stock's 50-day simple moving average is $7.83 and its 200 day simple moving average is $7.87. The stock has a market cap of $319.90 million, a price-to-earnings ratio of -3.74 and a beta of 2.56.

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Domo (NASDAQ:DOMO - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.26). The company had revenue of $78.77 million during the quarter, compared to the consensus estimate of $77.95 million. Research analysts forecast that Domo will post -2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOMO. Geode Capital Management LLC increased its position in shares of Domo by 0.5% during the third quarter. Geode Capital Management LLC now owns 759,353 shares of the company's stock worth $5,704,000 after purchasing an additional 4,091 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Domo during the third quarter worth $97,000. FMR LLC increased its position in shares of Domo by 20.6% during the third quarter. FMR LLC now owns 301,457 shares of the company's stock worth $2,264,000 after purchasing an additional 51,494 shares in the last quarter. Barclays PLC increased its position in shares of Domo by 56.8% during the third quarter. Barclays PLC now owns 79,611 shares of the company's stock worth $598,000 after purchasing an additional 28,838 shares in the last quarter. Finally, State Street Corp increased its position in shares of Domo by 2.6% during the third quarter. State Street Corp now owns 750,371 shares of the company's stock worth $5,635,000 after purchasing an additional 19,361 shares in the last quarter. Hedge funds and other 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.