Domo (NASDAQ:DOMO) Upgraded to Strong-Buy at Cantor Fitzgerald

Domo (NASDAQ:DOMO) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on DOMO. JMP Securities restated a “market outperform” rating and set a $16.00 target price on shares of Domo in a report on Friday, December 6th. Lake Street Capital boosted their target price on shares of Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, TD Cowen lifted their price objective on shares of Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Domo currently has an average rating of “Moderate Buy” and an average price target of $10.25.

Domo Trading Down 3.5 %

Shares of DOMO opened at $7.62 on Tuesday. The company has a market cap of $298.00 million, a price-to-earnings ratio of -3.48 and a beta of 2.49. Domo has a 1-year low of $6.11 and a 1-year high of $11.87. The company’s fifty day simple moving average is $7.75 and its 200 day simple moving average is $7.88.

Domo (NASDAQ:DOMO) last issued its earnings results on Thursday, December 5th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.27). The company had revenue of $79.68 million for the quarter, compared to analyst estimates of $77.56 million. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Domo will post -2.1 earnings per share for the current year.

Hedge Funds Weigh In On Domo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Olympiad Research LP bought a new stake in shares of Domo in the third quarter valued at about $161,000. Quest Partners LLC boosted its position in shares of Domo by 291.9% in the third quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock valued at $103,000 after acquiring an additional 10,204 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Domo by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,553 shares of the company’s stock valued at $2,009,000 after acquiring an additional 18,069 shares during the period. FMR LLC boosted its position in shares of Domo by 20.6% in the third quarter. FMR LLC now owns 301,457 shares of the company’s stock valued at $2,264,000 after acquiring an additional 51,494 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Domo by 5.4% in the third quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock valued at $308,000 after acquiring an additional 2,091 shares during the period. 76.64% of the stock is owned by institutional investors.

Domo Company Profile

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.