TD Cowen Has Lowered Expectations for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO) had its target price reduced by equities researchers at TD Cowen from $9.00 to $6.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 74.17% from the company’s current price.

Several other research firms have also recently weighed in on DOMO. Lake Street Capital cut their price objective on Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday, March 11th. Cantor Fitzgerald cut their price objective on Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Stephens cut their price objective on Domo from $18.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. DA Davidson cut their price objective on Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Finally, Weiss Ratings raised Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.42.

Domo Trading Up 1.0%

Shares of NASDAQ:DOMO traded up $0.04 during mid-day trading on Monday, hitting $3.45. 166,829 shares of the company traded hands, compared to its average volume of 1,478,727. The stock has a market cap of $155.53 million, a P/E ratio of -2.38 and a beta of 1.78. Domo has a 12-month low of $2.39 and a 12-month high of $18.49. The stock has a 50-day moving average price of $3.49 and a two-hundred day moving average price of $5.66.

Domo (NASDAQ:DOMO) last announced its earnings results on Tuesday, March 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.16). The company had revenue of $79.63 million during the quarter, compared to the consensus estimate of $78.65 million. The business’s revenue was up 1% on a year-over-year basis. As a group, analysts expect that Domo will post -1.43 earnings per share for the current year.

Insider Activity

In other Domo news, insider Rpd Fund Management Llc sold 39,034 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $4.46, for a total value of $174,091.64. Following the sale, the insider directly owned 4,187,809 shares in the company, valued at $18,677,628.14. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 1,350,626 shares of company stock valued at $3,785,484 in the last 90 days. Insiders own 15.24% of the company’s stock.

Institutional Trading of Domo

Several hedge funds have recently made changes to their positions in DOMO. RPD Fund Management LLC raised its stake in shares of Domo by 11,294.3% in the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock valued at $30,545,000 after buying an additional 3,591,600 shares during the period. Capital Research Global Investors bought a new stake in shares of Domo in the third quarter valued at $43,560,000. Portolan Capital Management LLC raised its stake in shares of Domo by 142.3% in the third quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock valued at $42,526,000 after buying an additional 1,576,884 shares during the period. Captrust Financial Advisors bought a new stake in shares of Domo in the fourth quarter valued at $8,108,000. Finally, First Trust Advisors LP bought a new stake in shares of Domo in the third quarter valued at $9,744,000. 76.64% of the stock is currently owned by institutional investors.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.