Domo (NASDAQ:DOMO) Stock Price Expected to Rise, JMP Securities Analyst Says

Domo (NASDAQ:DOMO - Get Free Report) had its target price raised by analysts at JMP Securities from $16.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential upside of 49.20% from the stock's previous close.

A number of other research analysts have also recently weighed in on DOMO. Morgan Stanley reduced their target price on Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Cowen reaffirmed a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $17.00 target price on shares of Domo in a research report on Wednesday. DA Davidson raised their price target on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Lake Street Capital reaffirmed a "hold" rating and set a $9.00 price target (up from $8.50) on shares of Domo in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.17.

Domo Price Performance

NASDAQ:DOMO traded up $0.41 during mid-day trading on Wednesday, reaching $13.41. The company's stock had a trading volume of 77,123 shares, compared to its average volume of 396,240. The stock has a market cap of $539.42 million, a P/E ratio of -7.11 and a beta of 1.84. The company's fifty day simple moving average is $10.29 and its two-hundred day simple moving average is $8.70. Domo has a twelve month low of $6.01 and a twelve month high of $14.83.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.10. The company had revenue of $80.11 million for the quarter, compared to analysts' expectations of $77.75 million. During the same quarter in the previous year, the company earned ($0.33) earnings per share. The company's revenue was up .0% on a year-over-year basis. Sell-side analysts expect that Domo will post -2.1 EPS for the current fiscal year.

Insider Activity at Domo

In other Domo news, CEO Joshua G. James bought 77,300 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $502,450.00. Following the completion of the purchase, the chief executive officer now directly owns 116,600 shares of the company's stock, valued at approximately $757,900. The trade was a 196.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel David Daniel III purchased 120,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $6.44 per share, for a total transaction of $772,800.00. Following the purchase, the director now owns 781,400 shares of the company's stock, valued at approximately $5,032,216. This represents a 18.14% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 210,325 shares of company stock valued at $1,441,189. Corporate insiders own 15.24% of the company's stock.

Hedge Funds Weigh In On Domo

Institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC increased its stake in shares of Domo by 9.5% in the first quarter. MetLife Investment Management LLC now owns 19,446 shares of the company's stock worth $151,000 after buying an additional 1,681 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Domo by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company's stock worth $622,000 after purchasing an additional 1,826 shares during the last quarter. Rhumbline Advisers grew its stake in Domo by 5.0% in the first quarter. Rhumbline Advisers now owns 49,557 shares of the company's stock worth $385,000 after purchasing an additional 2,369 shares in the last quarter. Diversify Wealth Management LLC increased its holdings in Domo by 13.2% in the first quarter. Diversify Wealth Management LLC now owns 23,197 shares of the company's stock valued at $176,000 after buying an additional 2,705 shares during the last quarter. Finally, Barclays PLC increased its holdings in Domo by 3.7% in the fourth quarter. Barclays PLC now owns 82,573 shares of the company's stock valued at $584,000 after buying an additional 2,962 shares during the last quarter. 76.64% of the stock is owned by institutional investors and hedge funds.

About Domo

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.