Zacks Investment Research downgraded shares of Domo (NASDAQ:DOMO) from a buy rating to a hold rating in a research note published on Wednesday.

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. “

Several other equities research analysts have also recently weighed in on the stock. Credit Suisse Group increased their price target on shares of Domo from $25.00 to $27.00 and gave the company an outperform rating in a research report on Friday, September 7th. Morgan Stanley increased their price target on shares of Domo from $28.00 to $29.00 and gave the company an overweight rating in a research report on Friday, September 7th. JMP Securities increased their price target on shares of Domo from $30.00 to $35.00 and gave the company an outperform rating in a research report on Friday, September 7th. Cowen began coverage on shares of Domo in a research report on Tuesday, July 24th. They set an outperform rating and a $27.00 price target for the company. Finally, William Blair began coverage on shares of Domo in a research report on Tuesday, July 24th. They set an outperform rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $26.43.

Shares of Domo stock traded down $0.54 during trading on Wednesday, reaching $17.30. The company’s stock had a trading volume of 204,321 shares, compared to its average volume of 339,508. Domo has a 52-week low of $15.43 and a 52-week high of $28.86.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, September 6th. The company reported ($3.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.93) by $0.49. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $32.02 million. Domo’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts forecast that Domo will post -9.55 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in DOMO. Meeder Asset Management Inc. bought a new position in Domo in the 3rd quarter worth $113,000. American International Group Inc. bought a new position in Domo in the 3rd quarter worth $114,000. Advisory Services Network LLC bought a new position in Domo in the 3rd quarter worth $135,000. Bank of New York Mellon Corp raised its holdings in Domo by 46.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,908 shares of the company’s stock worth $448,000 after purchasing an additional 6,654 shares in the last quarter. Finally, Wells Fargo & Company MN bought a new position in Domo in the 3rd quarter worth $180,000. 51.18% of the stock is owned by institutional investors and hedge funds.

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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