Morgan Stanley Has Lowered Expectations for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO - Get Free Report) had its price target lowered by equities researchers at Morgan Stanley from $9.00 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 17.30% from the stock's current price.

Several other brokerages also recently weighed in on DOMO. Lake Street Capital decreased their target price on shares of Domo from $9.50 to $8.50 and set a "hold" rating for the company in a research note on Friday, March 7th. DA Davidson raised shares of Domo to a "hold" rating in a research report on Monday, March 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 target price on shares of Domo in a research report on Thursday, March 20th. Finally, Cowen reissued a "hold" rating on shares of Domo in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.25.

Domo Trading Down 1.6 %

DOMO traded down $0.11 during trading on Wednesday, hitting $6.82. 454,032 shares of the company's stock were exchanged, compared to its average volume of 365,650. The stock has a 50 day moving average price of $8.06 and a 200 day moving average price of $8.01. Domo has a 1 year low of $6.01 and a 1 year high of $10.15. The firm has a market cap of $272.39 million, a P/E ratio of -3.11 and a beta of 2.28.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The company had revenue of $78.77 million during the quarter, compared to analysts' expectations of $77.95 million. Analysts forecast that Domo will post -2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Domo

In other Domo news, CEO Joshua G. James bought 77,300 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price 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 in the company, valued at approximately $757,900. This trade represents a 196.69 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David R. Jolley sold 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total transaction of $207,750.00. Following the sale, the director now directly owns 255,743 shares in the company, valued at $2,125,224.33. This trade represents a 8.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Domo

A number of institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in Domo by 2.6% in the third quarter. State Street Corp now owns 750,371 shares of the company's stock valued at $5,635,000 after acquiring an additional 19,361 shares during the period. XTX Topco Ltd bought a new position in Domo during the 3rd quarter worth $97,000. Y Intercept Hong Kong Ltd acquired a new stake in Domo in the third quarter worth $181,000. Barclays PLC lifted its stake in Domo by 56.8% in the third quarter. Barclays PLC now owns 79,611 shares of the company's stock valued at $598,000 after buying an additional 28,838 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Domo by 0.5% during the third quarter. Geode Capital Management LLC now owns 759,353 shares of the company's stock valued at $5,704,000 after acquiring an additional 4,091 shares during the period. 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.