Domo (NASDAQ:DOMO) PT Lowered to $56.00

Domo (NASDAQ:DOMOGet Rating) had its target price reduced by Morgan Stanley from $62.00 to $56.00 in a research report report published on Monday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the stock.

DOMO has been the topic of a number of other research reports. Cowen dropped their price target on shares of Domo from $50.00 to $35.00 and set an outperform rating on the stock in a research note on Friday, August 26th. Cowen decreased their price objective on shares of Domo from $50.00 to $35.00 and set an outperform rating for the company in a report on Friday, August 26th. Lake Street Capital began coverage on Domo in a research report on Tuesday, October 18th. They issued a buy rating and a $25.00 target price on the stock. Finally, JMP Securities decreased their price target on shares of Domo from $59.00 to $43.00 and set a market outperform rating on the stock in a research report on Friday, August 26th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $50.67.

Domo Stock Up 7.0 %

Domo stock opened at $13.97 on Monday. Domo has a twelve month low of $12.44 and a twelve month high of $75.44. The company has a market capitalization of $478.75 million, a P/E ratio of -3.74 and a beta of 2.34. The stock’s 50 day moving average is $16.51 and its 200 day moving average is $24.50.

Domo (NASDAQ:DOMOGet Rating) last released its earnings results on Thursday, August 25th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.21. The company had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $76.40 million. During the same period in the prior year, the company posted ($0.70) earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. As a group, equities analysts expect that Domo will post -3.42 EPS for the current year.

Insider Transactions at Domo

In other news, major shareholder Joshua G. James sold 7,284 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $13.15, for a total transaction of $95,784.60. Following the transaction, the insider now owns 333,746 shares of the company’s stock, valued at approximately $4,388,759.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Joshua G. James sold 7,284 shares of Domo stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $13.15, for a total transaction of $95,784.60. Following the completion of the transaction, the insider now directly owns 333,746 shares of the company’s stock, valued at approximately $4,388,759.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Joshua G. James sold 12,854 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $14.72, for a total transaction of $189,210.88. Following the transaction, the insider now owns 229,156 shares in the company, valued at $3,373,176.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,733 shares of company stock worth $577,444. 10.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Domo

A number of institutional investors and hedge funds have recently modified their holdings of DOMO. Principal Financial Group Inc. increased its stake in Domo by 8.6% in the first quarter. Principal Financial Group Inc. now owns 5,170 shares of the company’s stock worth $261,000 after purchasing an additional 409 shares during the period. Swiss National Bank increased its stake in Domo by 1.0% in the 2nd quarter. Swiss National Bank now owns 69,100 shares of the company’s stock worth $1,921,000 after buying an additional 700 shares during the period. Ensign Peak Advisors Inc boosted its position in Domo by 11.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 6,760 shares of the company’s stock valued at $188,000 after buying an additional 720 shares during the period. Lazard Asset Management LLC boosted its position in Domo by 90.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock valued at $78,000 after buying an additional 740 shares during the period. Finally, SkyOak Wealth LLC grew its stake in Domo by 6.9% in the 2nd quarter. SkyOak Wealth LLC now owns 11,634 shares of the company’s stock worth $323,000 after acquiring an additional 750 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

About Domo

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Domo, Inc operates a cloud-based business intelligence platform in the United States, Japan, and internationally. Its platform digitally connects from the 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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