TD Cowen Raises Domo (NASDAQ:DOMO) Price Target to $10.00

Domo (NASDAQ:DOMO - Free Report) had its price target hoisted by TD Cowen from $9.00 to $10.00 in a research report report published on Friday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

DOMO has been the topic of a number of other reports. DA Davidson increased their price objective on shares of Domo from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Friday, August 30th. JMP Securities reiterated a "market outperform" rating and issued a $16.00 price target on shares of Domo in a research report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $9.80.

Domo Stock Performance

DOMO stock traded up $0.08 during trading on Friday, reaching $9.36. 90,946 shares of the company were exchanged, compared to its average volume of 371,367. The stock's 50 day moving average price is $8.09 and its 200 day moving average price is $7.66. Domo has a 52-week low of $6.11 and a 52-week high of $12.23. The company has a market cap of $361.58 million, a P/E ratio of -4.33 and a beta of 2.43.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.21. The firm had revenue of $78.41 million for the quarter, compared to analysts' expectations of $76.60 million. During the same period last year, the firm earned ($0.44) EPS. Domo's revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Domo will post -2.31 EPS for the current year.

Insider Activity at Domo

In other news, CFO David R. Jolley acquired 10,000 shares of Domo stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $6.99 per share, with a total value of $69,900.00. Following the completion of the purchase, the chief financial officer now owns 291,465 shares of the company's stock, valued at approximately $2,037,340.35. This represents a 3.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.04% of the company's stock.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its stake in Domo by 51.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company's stock worth $48,000 after buying an additional 2,100 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Domo during the 3rd quarter worth about $88,000. XTX Topco Ltd acquired a new stake in shares of Domo in the third quarter worth approximately $97,000. Quest Partners LLC boosted its position in shares of Domo by 291.9% in the third quarter. Quest Partners LLC now owns 13,700 shares of the company's stock worth $103,000 after acquiring an additional 10,204 shares during the last quarter. Finally, Rockwood Wealth Management LLC purchased a new stake in Domo in the second quarter valued at approximately $104,000. 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.