Zacks Investment Research Lowers Domo (DOMO) to Sell

Zacks Investment Research downgraded shares of Domo (NASDAQ:DOMO) from a hold rating to a sell rating in a research note issued to investors on Friday.

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. “

Shares of NASDAQ DOMO opened at $22.72 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.47. Domo has a 1 year low of $13.28 and a 1 year high of $28.86.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, December 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.38) by $0.32. The business had revenue of $36.80 million for the quarter, compared to analysts’ expectations of $34.98 million. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts expect that Domo will post -10.33 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in DOMO. Meeder Asset Management Inc. purchased a new stake in Domo during the 3rd quarter worth about $113,000. American International Group Inc. purchased a new stake in Domo during the 3rd quarter worth about $114,000. Advisory Services Network LLC purchased a new stake in Domo during the 3rd quarter worth about $135,000. Wells Fargo & Company MN purchased a new stake in Domo during the 3rd quarter worth about $180,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in Domo during the 3rd quarter worth about $243,000. 62.48% of the stock is owned by institutional investors.

Domo Company Profile

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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