Domo (NASDAQ:DOMO) Rating Increased to Strong-Buy at Stephens

Stephens upgraded shares of Domo (NASDAQ:DOMO - Free Report) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

A number of other research firms have also issued reports on DOMO. Lake Street Capital reaffirmed a "hold" rating and issued a $9.00 price target (up previously from $8.50) on shares of Domo in a research report on Thursday, May 22nd. Cowen reissued a "hold" rating on shares of Domo in a research report on Thursday, May 22nd. Citigroup reissued an "outperform" rating on shares of Domo in a research report on Wednesday, June 25th. Cantor Fitzgerald reissued an "overweight" rating and set a $17.00 target price on shares of Domo in a research report on Wednesday, June 25th. Finally, DA Davidson raised their target price on Domo from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Domo Trading Down 0.4%

Domo stock traded down $0.06 during midday trading on Thursday, reaching $15.75. 484,087 shares of the stock traded hands, compared to its average volume of 425,730. The company has a 50-day simple moving average of $12.78 and a two-hundred day simple moving average of $9.58. Domo has a 12-month low of $6.01 and a 12-month high of $16.57. The firm has a market cap of $633.78 million, a PE ratio of -8.33 and a beta of 1.84.

Domo (NASDAQ:DOMO - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.10. The firm had revenue of $80.11 million for the quarter, compared to analysts' expectations of $77.75 million. During the same quarter last year, the business earned ($0.33) earnings per share. The business's revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Domo will post -2.1 earnings per share for the current year.

Insider Activity

In other Domo news, CEO Joshua G. James bought 13,025 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average cost of $12.74 per share, for a total transaction of $165,938.50. Following the transaction, the chief executive officer directly owned 1,079,972 shares in the company, valued at $13,758,843.28. The trade was a 1.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.24% of the company's stock.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd acquired a new stake in Domo during the fourth quarter valued at approximately $47,000. Riggs Capital Management LLC acquired a new stake in Domo during the fourth quarter valued at approximately $85,000. Intech Investment Management LLC acquired a new stake in Domo during the fourth quarter valued at approximately $103,000. Wells Fargo & Company MN boosted its holdings in shares of Domo by 29.2% in the 4th quarter. Wells Fargo & Company MN now owns 17,696 shares of the company's stock worth $125,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Domo in the 4th quarter worth approximately $127,000. Institutional investors and hedge funds own 76.64% of the company's stock.

Domo Company Profile

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.