Domo (DOMO) Rating Lowered to Hold at Zacks Investment Research

Domo (NASDAQ:DOMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Domo, Inc. designs and develops enterprise software. The Company offers a cloud-based executive management platform which gives users direct and real-time access to business information for industries including media and marketing, telecommunication, retail, travel and leisure, technology and financial services. Domo, Inc. is based in United States. “

Other research analysts also recently issued research reports about the company. UBS Group started coverage on Domo in a report on Tuesday, July 24th. They set a “neutral” rating and a $20.00 price target on the stock. Credit Suisse Group started coverage on Domo in a report on Tuesday, July 24th. They set an “outperform” rating and a $25.00 price target on the stock. Cowen started coverage on Domo in a report on Tuesday, July 24th. They set an “outperform” rating and a $27.00 price target on the stock. JMP Securities started coverage on Domo in a report on Tuesday, July 24th. They set an “outperform” rating and a $30.00 price target on the stock. Finally, William Blair started coverage on Domo in a report on Tuesday, July 24th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $26.43.

NASDAQ:DOMO traded down $0.45 during mid-day trading on Wednesday, reaching $17.39. 314 shares of the company’s stock traded hands, compared to its average volume of 358,058. Domo has a 12-month low of $15.43 and a 12-month high of $28.86.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, September 6th. The company reported ($3.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.93) by $0.49. The business had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $32.02 million. The business’s revenue was up 32.4% on a year-over-year basis. On average, analysts expect that Domo will post -9.55 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Domo during the 2nd quarter worth approximately $108,291,000. Institutional Venture Management XIII LLC purchased a new position in shares of Domo during the 2nd quarter worth approximately $37,335,000. TPG Group Holdings SBS Advisors Inc. purchased a new position in shares of Domo during the 2nd quarter worth approximately $20,586,000. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Domo by 90.4% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 625,510 shares of the company’s stock worth $13,417,000 after acquiring an additional 296,993 shares during the period. Finally, Sylebra HK Co Ltd purchased a new position in shares of Domo during the 2nd quarter worth approximately $10,920,000. Hedge funds and other institutional investors own 51.18% of the company’s stock.

About Domo

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.

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