Domo (NASDAQ:DOMO) Given New $7.00 Price Target at Morgan Stanley

Domo (NASDAQ:DOMO) had its target price decreased by investment analysts at Morgan Stanley from $13.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 1.82% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. DA Davidson reiterated a “neutral” rating and set a $10.00 price target on shares of Domo in a report on Thursday, March 28th. Lake Street Capital cut Domo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $15.00 to $8.00 in a report on Friday. Finally, TD Cowen lowered their price target on Domo from $11.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.60.

Domo Stock Down 2.6 %

Shares of NASDAQ:DOMO opened at $7.13 on Friday. The business has a fifty day moving average of $8.14 and a two-hundred day moving average of $9.43. The stock has a market cap of $271.15 million, a P/E ratio of -3.40 and a beta of 2.35. Domo has a 52-week low of $7.02 and a 52-week high of $18.19.

Domo (NASDAQ:DOMO) last issued its earnings results on Thursday, March 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.05). The business had revenue of $80.18 million during the quarter, compared to the consensus estimate of $79.46 million. On average, equities analysts anticipate that Domo will post -2 earnings per share for the current year.

Insider Transactions at Domo

In other news, CEO Joshua G. James sold 107,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $9.38, for a total transaction of $1,003,660.00. Following the completion of the transaction, the chief executive officer now directly owns 881,765 shares of the company’s stock, valued at $8,270,955.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Joshua G. James sold 107,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $9.38, for a total transaction of $1,003,660.00. Following the completion of the transaction, the chief executive officer now directly owns 881,765 shares of the company’s stock, valued at $8,270,955.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David R. Jolley sold 12,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $8.50, for a total value of $102,000.00. Following the transaction, the chief financial officer now directly owns 215,543 shares of the company’s stock, valued at $1,832,115.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,056 shares of company stock valued at $1,911,367. 14.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Domo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its holdings in Domo by 37.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 618,569 shares of the company’s stock valued at $6,068,000 after purchasing an additional 167,937 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Domo by 11.6% in the third quarter. Acadian Asset Management LLC now owns 628,201 shares of the company’s stock valued at $6,157,000 after purchasing an additional 65,227 shares in the last quarter. Innovis Asset Management LLC boosted its holdings in Domo by 327.3% in the third quarter. Innovis Asset Management LLC now owns 67,907 shares of the company’s stock valued at $666,000 after purchasing an additional 52,014 shares in the last quarter. Legato Capital Management LLC boosted its holdings in Domo by 40.2% in the fourth quarter. Legato Capital Management LLC now owns 60,531 shares of the company’s stock valued at $623,000 after purchasing an additional 17,350 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Domo by 397.3% in the third quarter. Bank of New York Mellon Corp now owns 637,262 shares of the company’s stock valued at $6,252,000 after purchasing an additional 509,111 shares in the last quarter. 76.64% of the stock is owned by institutional investors and hedge funds.

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.