Domo (NASDAQ:DOMO) Receives “Overweight” Rating from Cantor Fitzgerald

Domo (NASDAQ:DOMO)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $17.00 target price on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 22.39% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on DOMO. Wall Street Zen upgraded shares of Domo from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Morgan Stanley decreased their price objective on shares of Domo from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Lake Street Capital reiterated a “hold” rating and issued a $9.00 price objective (up from $8.50) on shares of Domo in a report on Thursday, May 22nd. DA Davidson upped their price objective on shares of Domo from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.17.

Domo Stock Up 9.5%

Domo stock opened at $13.89 on Wednesday. The stock has a market cap of $558.93 million, a P/E ratio of -7.35 and a beta of 1.84. Domo has a 12 month low of $6.01 and a 12 month high of $14.83. The company’s fifty day simple moving average is $10.54 and its 200-day simple moving average is $8.76.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The business had revenue of $80.11 million during the quarter, compared to the consensus estimate of $77.75 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) earnings per share. On average, equities research analysts expect that Domo will post -2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Domo

In related news, Director Daniel David Daniel III acquired 120,000 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $6.44 per share, with a total value of $772,800.00. Following the completion of the transaction, the director now owns 781,400 shares of the company’s stock, valued at approximately $5,032,216. This represents a 18.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joshua G. James acquired 77,300 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $6.50 per share, with a total value of $502,450.00. Following the transaction, the chief executive officer now directly owns 116,600 shares of the company’s stock, valued at $757,900. The trade was a 196.69% increase in their position. The disclosure for this purchase can be found here. Insiders bought 210,325 shares of company stock worth $1,441,189 over the last ninety days. Company insiders own 15.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Domo during the fourth quarter valued at about $47,000. Riggs Capital Management LLC acquired a new position in shares of Domo during the fourth quarter valued at about $85,000. Intech Investment Management LLC acquired a new position in shares of Domo during the fourth quarter valued at about $103,000. Wells Fargo & Company MN raised its position in Domo by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock worth $125,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Domo in the fourth quarter worth about $127,000. Institutional investors and hedge funds own 76.64% of the company’s stock.

About Domo

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.