Wall Street Zen Downgrades Domo (NASDAQ:DOMO) to Hold

Domo (NASDAQ:DOMO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

DOMO has been the subject of several other research reports. Citizens Jmp restated an “underperform” rating and issued a $3.50 target price on shares of Domo in a research note on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Domo in a research report on Wednesday, January 21st. DA Davidson decreased their price target on shares of Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. TD Cowen decreased their target price on Domo from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Cantor Fitzgerald lowered their price target on Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Domo presently has a consensus rating of “Hold” and an average price target of $8.64.

Domo Stock Down 3.9%

DOMO opened at $2.98 on Friday. The firm has a 50-day moving average price of $4.52 and a 200-day moving average price of $9.28. Domo has a twelve month low of $2.90 and a twelve month high of $18.49. The company has a market capitalization of $124.56 million, a price-to-earnings ratio of -2.06 and a beta of 1.70.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The company had revenue of $79.63 million for the quarter, compared to the consensus estimate of $78.65 million. The business’s revenue was up 1% compared to the same quarter last year. On average, sell-side analysts expect that Domo will post -2.1 earnings per share for the current fiscal year.

Institutional Trading of Domo

Institutional investors and hedge funds have recently made changes to their positions in the stock. RPD Fund Management LLC grew its position in Domo by 11,294.3% in the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock worth $30,545,000 after acquiring an additional 3,591,600 shares in the last quarter. Capital Research Global Investors increased its stake in Domo by 8.2% in the fourth quarter. Capital Research Global Investors now owns 2,975,558 shares of the company’s stock valued at $25,084,000 after acquiring an additional 225,558 shares during the last quarter. Portolan Capital Management LLC raised its position in Domo by 142.3% during the third quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock valued at $42,526,000 after purchasing an additional 1,576,884 shares in the last quarter. AIGH Capital Management LLC raised its position in Domo by 37.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company’s stock valued at $15,492,000 after purchasing an additional 496,244 shares in the last quarter. Finally, State Street Corp lifted its stake in Domo by 33.9% during the fourth quarter. State Street Corp now owns 1,285,753 shares of the company’s stock worth $10,839,000 after purchasing an additional 325,239 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.