Domo (NASDAQ:DOMO) Upgraded at TD Cowen

Key Points

• Domo was upgraded from a "hold" to a "buy" rating by analysts at TD Cowen, with a new price target of $21.00, suggesting a potential upside of 51.73% from its current price.
• The stock currently holds a consensus rating of "Moderate Buy" with multiple analysts adjusting their price targets, reflecting increasing investor confidence.
• In recent insider activity, CEO Joshua G. James bought 13,025 shares at an average cost of $12.74 per share, indicating strong personal conviction in the company's future performance.

Domo (NASDAQ:DOMO - Get Free Report) was upgraded by analysts at TD Cowen from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $21.00 price target on the stock, up from their prior price target of $13.00. TD Cowen's price objective suggests a potential upside of 51.73% from the company's current price.

Other research analysts have also recently issued reports about the stock. DA Davidson increased their target price on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Stephens assumed coverage on shares of Domo in a report on Friday, July 18th. They issued an "overweight" rating and a $19.00 target price for the company. Lake Street Capital reissued a "hold" rating and set a $9.00 price objective (up from $8.50) on shares of Domo in a research note on Thursday, May 22nd. Cowen reissued a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Finally, JMP Securities raised their price objective on shares of Domo from $16.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.71.

Domo Stock Down 2.2%

NASDAQ DOMO opened at $13.84 on Tuesday. Domo has a 52-week low of $6.01 and a 52-week high of $16.95. The stock has a market capitalization of $556.92 million, a P/E ratio of -7.32 and a beta of 1.87. The firm has a 50-day moving average price of $14.64 and a 200 day moving average price of $10.98.

Insider Buying and Selling at Domo

In related news, CEO Joshua G. James bought 13,025 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average cost of $12.74 per share, with a total value of $165,938.50. Following the completion of the transaction, the chief executive officer owned 1,079,972 shares of the company's stock, valued at approximately $13,758,843.28. The trade was a 1.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Domo

A number of large investors have recently bought and sold shares of DOMO. 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 valued at $125,000 after purchasing an additional 4,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Domo in the 4th quarter valued at $173,000. Barclays PLC boosted its holdings in shares of Domo by 3.7% in the 4th quarter. Barclays PLC now owns 82,573 shares of the company's stock valued at $584,000 after purchasing an additional 2,962 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Domo by 21.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,104 shares of the company's stock valued at $398,000 after purchasing an additional 10,039 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Domo by 5.8% in the 4th quarter. Northern Trust Corp now owns 327,599 shares of the company's stock valued at $2,319,000 after purchasing an additional 17,962 shares during the last quarter. Hedge funds and other institutional investors 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.

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