JMP Securities Forecasts Strong Price Appreciation for Domo (NASDAQ:DOMO) Stock

Domo (NASDAQ:DOMOGet Free Report) had its target price raised by analysts at JMP Securities from $16.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price would indicate a potential upside of 43.99% from the stock’s previous close.

DOMO has been the subject of a number of other reports. Lake Street Capital reaffirmed a “hold” rating and set a $9.00 price objective (up from $8.50) on shares of Domo in a research report on Thursday, May 22nd. DA Davidson increased their target price on Domo from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Wall Street Zen raised Domo from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 target price on shares of Domo in a research note on Wednesday. Finally, Morgan Stanley cut their target price on Domo from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Domo presently has an average rating of “Hold” and a consensus price target of $12.17.

Check Out Our Latest Analysis on DOMO

Domo Trading Up 9.5%

Domo stock opened at $13.89 on Wednesday. Domo has a twelve month low of $6.01 and a twelve month high of $14.83. The stock has a 50 day moving average of $10.54 and a two-hundred day moving average of $8.76. The stock has a market capitalization of $558.93 million, a price-to-earnings ratio of -7.35 and a beta of 1.84.

Domo (NASDAQ:DOMOGet Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The company had revenue of $80.11 million for the quarter, compared to analyst estimates of $77.75 million. During the same period in the previous year, the business posted ($0.33) earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. Equities analysts predict that Domo will post -2.1 earnings per share for the current year.

Insider Activity at Domo

In other news, Director Daniel David Daniel III acquired 120,000 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $6.44 per share, with a total value of $772,800.00. Following the purchase, the director now directly owns 781,400 shares of the company’s stock, valued at approximately $5,032,216. This trade represents a 18.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joshua G. James acquired 13,025 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $12.74 per share, with a total value of $165,938.50. Following the completion of the purchase, the chief executive officer now directly owns 1,079,972 shares in the company, valued at $13,758,843.28. This represents a 1.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 210,325 shares of company stock valued at $1,441,189 in the last ninety days. Corporate insiders own 15.24% of the company’s stock.

Hedge Funds Weigh In On Domo

Hedge funds have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Domo in the 4th quarter valued at approximately $47,000. Riggs Capital Management LLC purchased a new position in Domo during the fourth quarter worth $85,000. Intech Investment Management LLC purchased a new position in Domo during the fourth quarter worth $103,000. Wells Fargo & Company MN increased its position in Domo by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock worth $125,000 after buying an additional 4,000 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Domo during the fourth quarter worth $127,000. 76.64% of the stock is owned by hedge funds and other institutional investors.

Domo Company Profile

(Get Free Report)

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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Analyst Recommendations for Domo (NASDAQ:DOMO)

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