Domo (NASDAQ:DOMO) Price Target Lowered to $8.00 at Morgan Stanley

Domo (NASDAQ:DOMO - Get Free Report) had its price objective decreased by stock analysts at Morgan Stanley from $9.00 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 15.44% from the company's current price.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $11.00 price target on shares of Domo in a research note on Thursday, March 20th. Lake Street Capital dropped their price objective on Domo from $9.50 to $8.50 and set a "hold" rating on the stock in a report on Friday, March 7th. Cowen reissued a "hold" rating on shares of Domo in a research report on Friday, March 7th. Finally, DA Davidson raised Domo to a "hold" rating in a research report on Monday, March 10th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.25.

Domo Price Performance

Shares of DOMO traded down $0.20 during mid-day trading on Wednesday, reaching $6.93. The stock had a trading volume of 466,205 shares, compared to its average volume of 365,295. The business's fifty day moving average is $8.06 and its 200 day moving average is $8.01. Domo has a 52-week low of $6.01 and a 52-week high of $10.15. The firm has a market cap of $276.78 million, a price-to-earnings ratio of -3.16 and a beta of 2.28.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. As a group, sell-side analysts anticipate that Domo will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling at Domo

In other news, CEO Joshua G. James bought 77,300 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $6.50 per share, with a total value of $502,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 116,600 shares in the company, valued at approximately $757,900. The trade was a 196.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel David Daniel III purchased 120,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $6.44 per share, with a total value of $772,800.00. Following the completion of the acquisition, the director now directly owns 781,400 shares of the company's stock, valued at $5,032,216. This represents a 18.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Domo

A number of institutional investors have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Domo in the fourth quarter valued at about $47,000. R Squared Ltd acquired a new stake in shares of Domo during the 4th quarter valued at approximately $56,000. Riggs Capital Management LLC purchased a new stake in shares of Domo during the 4th quarter worth approximately $85,000. XTX Topco Ltd purchased a new stake in shares of Domo during the 3rd quarter worth approximately $97,000. Finally, SG Americas Securities LLC grew its holdings in shares of Domo by 19.1% in the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company's stock worth $99,000 after acquiring an additional 2,247 shares during the period. 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.