Domo Inc (NASDAQ:DOMO) Given Average Rating of “Buy” by Brokerages

Domo Inc (NASDAQ:DOMO) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $25.71.

A number of brokerages have recently issued reports on DOMO. Cowen dropped their price objective on Domo from $52.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. JMP Securities dropped their price objective on Domo from $47.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Friday, September 6th. Morgan Stanley set a $24.00 price objective on Domo and gave the stock a “buy” rating in a research note on Monday, September 9th. Credit Suisse Group cut Domo from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $20.00 in a research note on Friday, September 6th. Finally, UBS Group dropped their price objective on Domo from $28.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th.

Shares of Domo stock traded up $0.36 on Thursday, reaching $15.71. 15,781 shares of the company were exchanged, compared to its average volume of 918,514. Domo has a one year low of $13.28 and a one year high of $47.08. The company has a market capitalization of $432.03 million, a price-to-earnings ratio of -1.66 and a beta of 0.75. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 4.56. The company has a 50-day moving average of $19.16 and a 200 day moving average of $29.36.

Domo (NASDAQ:DOMO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.27. Domo had a negative return on equity of 403.37% and a negative net margin of 81.35%. The company had revenue of $41.70 million for the quarter, compared to analysts’ expectations of $41.68 million. During the same quarter in the prior year, the business posted ($3.44) EPS. The business’s revenue was up 21.6% compared to the same quarter last year. Analysts predict that Domo will post -4.7 earnings per share for the current year.

In other Domo news, CEO Joshua G. James bought 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $17.00 per share, with a total value of $1,020,000.00. 21.97% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Atria Investments LLC acquired a new position in shares of Domo during the 2nd quarter worth approximately $135,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Domo during the 2nd quarter worth approximately $5,497,000. Royal Bank of Canada acquired a new position in shares of Domo during the 2nd quarter worth approximately $94,000. Voloridge Investment Management LLC increased its holdings in shares of Domo by 459.5% during the 2nd quarter. Voloridge Investment Management LLC now owns 47,365 shares of the company’s stock worth $1,294,000 after acquiring an additional 38,899 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of Domo during the 2nd quarter worth approximately $4,592,000. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Domo Company Profile

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects 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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