Domo, Inc. (NASDAQ:DOMO) Receives $8.64 Consensus PT from Analysts

Domo, Inc. (NASDAQ:DOMO) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.75.

A number of equities analysts have recently issued reports on DOMO shares. Cantor Fitzgerald lowered their target price on shares of Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. DA Davidson decreased their price target on Domo from $10.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Citigroup downgraded Domo from an “outperform” rating to an “underperform” rating in a report on Friday, February 13th. Citizens Jmp reaffirmed an “underperform” rating and set a $3.50 price target on shares of Domo in a report on Friday, February 13th. Finally, Lake Street Capital decreased their price target on Domo from $13.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, March 11th.

Institutional Investors Weigh In On Domo

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in shares of Domo during the third quarter worth $25,000. Global Wealth Strategies & Associates acquired a new stake in shares of Domo during the fourth quarter worth $28,000. Headlands Technologies LLC acquired a new stake in shares of Domo during the second quarter worth $42,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Domo during the third quarter worth $70,000. Finally, Andina Capital Management LLC acquired a new stake in shares of Domo during the fourth quarter worth $84,000. 76.64% of the stock is owned by institutional investors and hedge funds.

Domo Trading Up 7.2%

Shares of DOMO opened at $3.42 on Friday. The firm has a market cap of $142.95 million, a PE ratio of -2.36 and a beta of 1.75. The company’s 50 day simple moving average is $3.77 and its 200-day simple moving average is $8.10. Domo has a 12-month low of $2.39 and a 12-month high of $18.49.

Domo (NASDAQ:DOMO) last announced its earnings results on Tuesday, March 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The firm had revenue of $79.63 million for the quarter, compared to analyst estimates of $78.65 million. The business’s revenue for the quarter was up 1% compared to the same quarter last year. As a group, equities research analysts forecast that Domo will post -2.1 EPS for the current fiscal year.

About Domo

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.