Zacks Investment Research upgraded shares of Domo (NASDAQ:DOMO) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $19.00 target price on the stock.

According to Zacks, “Domo, Inc. designs and develops enterprise software. The Company offers a cloud-based executive management platform which gives users direct and real-time access to business information for industries including media and marketing, telecommunication, retail, travel and leisure, technology and financial services. Domo, Inc. is based in United States. “

Other research analysts have also recently issued reports about the company. UBS Group reduced their price objective on Domo from $28.00 to $18.00 and set a neutral rating on the stock in a research note on Monday. Credit Suisse Group cut Domo from an outperform rating to a neutral rating and reduced their price objective for the company from $45.00 to $20.00 in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a buy rating and set a $34.00 price objective (down from $50.00) on shares of Domo in a research note on Friday, September 6th. Cowen reduced their price objective on Domo from $52.00 to $28.00 and set a buy rating on the stock in a research note on Friday, September 6th. Finally, JMP Securities reduced their price objective on Domo from $47.00 to $37.00 and set a market outperform rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $25.71.

Shares of NASDAQ:DOMO traded down $0.03 on Wednesday, reaching $17.04. 1,070,861 shares of the company traded hands, compared to its average volume of 817,417. The business’s 50-day simple moving average is $24.73 and its 200 day simple moving average is $31.94. Domo has a 52 week low of $13.28 and a 52 week high of $47.08. The stock has a market capitalization of $436.57 million, a P/E ratio of -1.81 and a beta of 0.86. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 4.56.

Domo (NASDAQ:DOMO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.23) by $0.27. Domo had a negative return on equity of 291.36% and a negative net margin of 81.35%. The firm had revenue of $41.70 million for the quarter, compared to analysts’ expectations of $41.68 million. During the same period last year, the firm earned ($3.44) earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. Sell-side analysts expect that Domo will post -4.82 EPS for the current fiscal year.

In related news, CEO Joshua G. James acquired 60,000 shares of Domo stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $17.00 per share, with a total value of $1,020,000.00. 21.97% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA bought a new stake in shares of Domo in the first quarter worth about $141,000. EULAV Asset Management grew its stake in shares of Domo by 82.2% in the second quarter. EULAV Asset Management now owns 31,700 shares of the company’s stock worth $866,000 after purchasing an additional 14,300 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Domo in the first quarter worth about $4,399,000. First Trust Advisors LP bought a new stake in shares of Domo in the second quarter worth about $29,791,000. Finally, TCW Group Inc. grew its stake in shares of Domo by 65.8% in the first quarter. TCW Group Inc. now owns 216,298 shares of the company’s stock worth $8,724,000 after purchasing an additional 85,855 shares during the last quarter. 64.17% of the stock is currently owned by institutional investors.

Domo Company Profile

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.

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