Morgan Stanley Lowers Domo (NASDAQ:DOMO) Price Target to $56.00

Domo (NASDAQ:DOMOGet Rating) had its target price reduced by Morgan Stanley from $62.00 to $56.00 in a report published on Monday morning, MarketBeat reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on DOMO. Lake Street Capital assumed coverage on shares of Domo in a report on Tuesday, October 18th. They set a buy rating and a $25.00 price objective for the company. JMP Securities decreased their price target on Domo from $59.00 to $43.00 and set a market outperform rating for the company in a report on Friday, August 26th. Cowen cut their price objective on shares of Domo from $50.00 to $35.00 and set an outperform rating on the stock in a report on Friday, August 26th. Finally, Cowen reduced their target price on shares of Domo from $50.00 to $35.00 and set an outperform rating for the company in a research note on Friday, August 26th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $50.67.

Domo Price Performance

Shares of DOMO opened at $13.97 on Monday. The stock has a 50-day moving average of $16.51 and a 200-day moving average of $24.50. Domo has a one year low of $12.44 and a one year high of $75.44. The company has a market cap of $478.75 million, a PE ratio of -3.74 and a beta of 2.34.

Domo (NASDAQ:DOMOGet Rating) last released its quarterly earnings data on Thursday, August 25th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.21. The firm had revenue of $75.50 million for the quarter, compared to the consensus estimate of $76.40 million. During the same quarter in the prior year, the firm earned ($0.70) EPS. The company’s revenue was up 20.2% compared to the same quarter last year. Analysts expect that Domo will post -3.42 EPS for the current fiscal year.

Insider Activity

In related news, COO Catherine Wong sold 3,750 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $17.16, for a total transaction of $64,350.00. Following the completion of the transaction, the chief operating officer now owns 298,758 shares in the company, valued at $5,126,687.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Domo news, COO Catherine Wong sold 3,750 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $17.16, for a total transaction of $64,350.00. Following the completion of the transaction, the chief operating officer now directly owns 298,758 shares of the company’s stock, valued at $5,126,687.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bruce C. Jr. Felt sold 5,951 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $16.84, for a total value of $100,214.84. Following the completion of the sale, the chief financial officer now owns 254,194 shares in the company, valued at $4,280,626.96. The disclosure for this sale can be found here. Insiders sold a total of 36,733 shares of company stock valued at $577,444 in the last ninety days. 10.85% of the stock is currently owned by insiders.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC grew its stake in Domo by 90.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock valued at $78,000 after buying an additional 740 shares in the last quarter. CWM LLC grew its position in shares of Domo by 713.3% in the third quarter. CWM LLC now owns 1,651 shares of the company’s stock valued at $30,000 after purchasing an additional 1,448 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Domo by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,526 shares of the company’s stock valued at $127,000 after purchasing an additional 842 shares during the period. Advisor Group Holdings Inc. lifted its holdings in Domo by 29.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,625 shares of the company’s stock worth $203,000 after purchasing an additional 835 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in Domo by 60.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 4,188 shares of the company’s stock worth $212,000 after purchasing an additional 1,582 shares during the period. Institutional investors own 71.55% of the company’s stock.

About Domo

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Domo, Inc operates a cloud-based business intelligence platform in the United States, Japan, and internationally. Its platform digitally connects from the 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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