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

Cantor Fitzgerald upgraded shares of Domo (NASDAQ:DOMO) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

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

Domo Stock Performance

Shares of DOMO opened at $7.62 on Tuesday. The stock has a 50-day moving average of $7.75 and a two-hundred day moving average of $7.88. Domo has a one year low of $6.11 and a one year high of $11.87. The stock has a market cap of $298.00 million, a P/E ratio of -3.48 and a beta of 2.49.

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

Hedge Funds Weigh In On Domo

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Domo by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company’s stock valued at $622,000 after purchasing an additional 1,826 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Domo by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock worth $308,000 after buying an additional 2,091 shares in the last quarter. SG Americas Securities LLC increased its stake in Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock worth $99,000 after buying an additional 2,247 shares in the last quarter. Barclays PLC lifted its position in shares of Domo by 3.7% in the fourth quarter. Barclays PLC now owns 82,573 shares of the company’s stock valued at $584,000 after acquiring an additional 2,962 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Domo by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock worth $125,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other 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.