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

Domo (NASDAQ:DOMO - Get Free Report) had its price objective raised by research analysts at Morgan Stanley from $7.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 10.52% from the company's current price.

Several other research firms have also recently weighed in on DOMO. Cowen restated a "hold" rating on shares of Domo in a report on Friday, March 7th. JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price target on shares of Domo in a research note on Friday, December 6th. Lake Street Capital reduced 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. DA Davidson upgraded shares of Domo to a "hold" rating in a research note on Monday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $11.00 price objective on shares of Domo in a research note on Friday, March 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.42.

Domo Stock Performance

Shares of Domo stock traded down $0.43 on Thursday, hitting $8.14. 186,575 shares of the company traded hands, compared to its average volume of 331,813. The business has a 50-day simple moving average of $7.89 and a 200 day simple moving average of $7.88. Domo has a 52 week low of $6.11 and a 52 week high of $10.15. The stock has a market capitalization of $318.46 million, a P/E ratio of -3.72 and a beta of 2.56.

Remove Ads

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 business had revenue of $78.77 million for the quarter, compared to the consensus estimate of $77.95 million. Research analysts expect that Domo will post -2.1 earnings per share for the current year.

Hedge Funds Weigh In On Domo

Several large investors have recently made changes to their positions in DOMO. Quest Partners LLC increased its holdings in Domo by 291.9% in the third quarter. Quest Partners LLC now owns 13,700 shares of the company's stock valued at $103,000 after buying an additional 10,204 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Domo by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,553 shares of the company's stock valued at $2,009,000 after purchasing an additional 18,069 shares in the last quarter. FMR LLC raised its holdings in Domo by 20.6% in the 3rd quarter. FMR LLC now owns 301,457 shares of the company's stock worth $2,264,000 after purchasing an additional 51,494 shares during the period. BNP Paribas Financial Markets boosted its position in Domo by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company's stock worth $308,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Centiva Capital LP grew its holdings in Domo by 38.1% in the third quarter. Centiva Capital LP now owns 24,749 shares of the company's stock valued at $186,000 after purchasing an additional 6,828 shares during the period. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Domo Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.