Domo (NASDAQ:DOMO) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Domo (NASDAQ:DOMO) in a research report released on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $11.00 price objective on the stock.

Several other brokerages also recently weighed in on DOMO. Lake Street Capital increased their target price on Domo from $8.00 to $9.50 and gave the company a “hold” rating in a research note on Friday, December 6th. TD Cowen increased their target price on Domo from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 29th. Finally, JMP Securities restated a “market outperform” rating and set a $16.00 target price on shares of Domo in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.25.

Domo Stock Performance

Shares of NASDAQ DOMO opened at $8.80 on Tuesday. The firm has a market cap of $344.17 million, a price-to-earnings ratio of -4.02 and a beta of 2.49. The business’s 50-day simple moving average is $7.66 and its 200-day simple moving average is $7.83. Domo has a 52 week low of $6.11 and a 52 week high of $12.05.

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

Institutional Trading of Domo

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Domo by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 759,353 shares of the company’s stock worth $5,704,000 after acquiring an additional 4,091 shares during the period. XTX Topco Ltd bought a new stake in shares of Domo in the 3rd quarter worth approximately $97,000. FMR LLC lifted its position in shares of Domo by 20.6% in the 3rd quarter. FMR LLC now owns 301,457 shares of the company’s stock worth $2,264,000 after acquiring an additional 51,494 shares during the period. Barclays PLC lifted its position in shares of Domo by 56.8% in the 3rd quarter. Barclays PLC now owns 79,611 shares of the company’s stock worth $598,000 after acquiring an additional 28,838 shares during the period. Finally, State Street Corp lifted its position in shares of Domo by 2.6% in the 3rd quarter. State Street Corp now owns 750,371 shares of the company’s stock worth $5,635,000 after acquiring an additional 19,361 shares during the period. Institutional investors 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.