Domo (NASDAQ:DOMO) Price Target Cut to $56.00

Domo (NASDAQ:DOMOGet Rating) had its price target lowered by equities researchers at Morgan Stanley from $62.00 to $56.00 in a research note issued on Monday, Marketbeat reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 328.79% from the stock’s current price.

Several other equities research analysts have also recently commented on DOMO. JMP Securities dropped their target price on Domo from $59.00 to $43.00 and set a “market outperform” rating on the stock in a report on Friday, August 26th. Cowen decreased their price target on shares of Domo from $50.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, August 26th. Cowen lowered their target price on shares of Domo from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. Finally, Lake Street Capital assumed coverage on shares of Domo in a research note on Tuesday, October 18th. They set a “buy” rating and a $25.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Domo presently has a consensus rating of “Buy” and an average price target of $50.67.

Domo Trading Down 2.1 %

NASDAQ DOMO opened at $13.06 on Monday. The stock has a market cap of $447.51 million, a PE ratio of -3.49 and a beta of 2.34. The stock has a fifty day simple moving average of $16.80 and a 200-day simple moving average of $24.65. Domo has a twelve month low of $12.44 and a twelve month high of $75.44.

Domo (NASDAQ:DOMOGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.21. The company had revenue of $75.50 million for the quarter, compared to analyst estimates of $76.40 million. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.70) earnings per share. Research analysts predict that Domo will post -3.42 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Joshua G. James sold 7,284 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $13.15, for a total transaction of $95,784.60. Following the transaction, the insider now owns 333,746 shares of the company’s stock, valued at approximately $4,388,759.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Domo news, major shareholder Joshua G. James sold 7,284 shares of Domo stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $13.15, for a total value of $95,784.60. Following the completion of the sale, the insider now owns 333,746 shares of the company’s stock, valued at approximately $4,388,759.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Joshua G. James sold 12,854 shares of Domo stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $14.72, for a total value of $189,210.88. Following the transaction, the insider now directly owns 229,156 shares in the company, valued at $3,373,176.32. The disclosure for this sale can be found here. Insiders have sold 36,733 shares of company stock worth $577,444 in the last ninety days. 10.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Domo

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Domo by 74.5% in the first quarter. SG Americas Securities LLC now owns 4,419 shares of the company’s stock valued at $223,000 after buying an additional 1,887 shares in the last quarter. abrdn plc increased its holdings in shares of Domo by 1.0% in the 1st quarter. abrdn plc now owns 698,541 shares of the company’s stock valued at $35,325,000 after acquiring an additional 6,707 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Domo by 61.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,536 shares of the company’s stock valued at $735,000 after purchasing an additional 5,508 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Domo by 13.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 10,892 shares of the company’s stock worth $550,000 after buying an additional 1,309 shares in the last quarter. Finally, Ziegler Capital Management LLC purchased a new stake in shares of Domo during the 1st quarter worth approximately $279,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About Domo

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Domo, Inc operates a cloud-based business intelligence platform in the United States, Japan, and internationally. Its platform digitally connects from the chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.

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Analyst Recommendations for Domo (NASDAQ:DOMO)

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