Domo (NASDAQ:DOMO) PT Lowered to $50.00

Domo (NASDAQ:DOMOGet Rating) had its price target lowered by Cowen from $63.00 to $50.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm currently has an outperform rating on the stock.

DOMO has been the subject of several other research reports. JMP Securities reduced their price objective on shares of Domo from $88.00 to $59.00 in a research note on Friday, May 27th. Morgan Stanley reduced their price objective on shares of Domo from $90.00 to $74.00 and set an overweight rating for the company in a research note on Thursday, May 19th. Finally, Cowen reduced their price objective on shares of Domo from $63.00 to $50.00 and set an outperform rating for the company in a research note on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $68.60.

Domo stock opened at $28.04 on Friday. The firm has a market cap of $925.15 million, a PE ratio of -7.83 and a beta of 2.61. Domo has a 52-week low of $23.01 and a 52-week high of $98.35. The company’s 50 day moving average is $32.22 and its two-hundred day moving average is $41.52.

Domo (NASDAQ:DOMOGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.16). The firm had revenue of $74.50 million for the quarter, compared to analyst estimates of $74.10 million. During the same quarter last year, the firm earned ($0.58) EPS. The company’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts predict that Domo will post -4.21 EPS for the current year.

In other news, COO Catherine Wong sold 3,750 shares of Domo stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $27.13, for a total transaction of $101,737.50. Following the completion of the sale, the chief operating officer now directly owns 299,027 shares in the company, valued at $8,112,602.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John M. Mellor sold 6,788 shares of Domo stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $27.30, for a total transaction of $185,312.40. Following the sale, the chief executive officer now owns 379,171 shares of the company’s stock, valued at $10,351,368.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,478 shares of company stock valued at $387,309. 10.85% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bellwether Advisors LLC grew its holdings in shares of Domo by 153.2% during the first quarter. Bellwether Advisors LLC now owns 666 shares of the company’s stock worth $33,000 after buying an additional 403 shares in the last quarter. Captrust Financial Advisors grew its holdings in Domo by 222.5% in the third quarter. Captrust Financial Advisors now owns 545 shares of the company’s stock valued at $46,000 after purchasing an additional 376 shares during the period. Lazard Asset Management LLC grew its holdings in Domo by 90.1% in the first quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock valued at $78,000 after purchasing an additional 740 shares during the period. UMB Bank N A MO purchased a new stake in Domo in the fourth quarter valued at approximately $123,000. Finally, Penserra Capital Management LLC grew its holdings in Domo by 50.0% in the first quarter. Penserra Capital Management LLC now owns 2,526 shares of the company’s stock valued at $127,000 after purchasing an additional 842 shares during the period. Institutional investors and hedge funds own 72.40% of the company’s stock.

Domo Company Profile (Get Rating)

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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