Domo (DOMO) Posts Quarterly Earnings Results, Beats Estimates By $0.48 EPS

Domo (NASDAQ:DOMO) posted its quarterly earnings data on Wednesday. The company reported ($0.94) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.42) by $0.48, Briefing.com reports. The business had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $37.77 million. Domo’s revenue for the quarter was up 30.9% compared to the same quarter last year.

Shares of NASDAQ:DOMO opened at $31.20 on Thursday. Domo has a fifty-two week low of $13.28 and a fifty-two week high of $36.87. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.47.

Several research analysts have recently commented on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $40.00 price objective (up previously from $27.00) on shares of Domo in a research note on Thursday. Needham & Company LLC raised their price objective on shares of Domo from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised their price objective on shares of Domo from $29.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, Zacks Investment Research lowered shares of Domo from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Domo currently has an average rating of “Buy” and a consensus price target of $30.63.

Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in Domo in the third quarter valued at approximately $113,000. American International Group Inc. acquired a new stake in Domo in the third quarter valued at approximately $114,000. Bank of America Corp DE raised its holdings in Domo by 420.3% in the fourth quarter. Bank of America Corp DE now owns 8,809 shares of the company’s stock valued at $173,000 after acquiring an additional 7,116 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Domo in the fourth quarter valued at approximately $177,000. Finally, Wells Fargo & Company MN acquired a new stake in Domo in the third quarter valued at approximately $180,000. 65.56% of the stock is currently owned by hedge funds and other institutional investors.

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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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