Cantor Fitzgerald Cuts Domo (NASDAQ:DOMO) Price Target to $8.00

Domo (NASDAQ:DOMO) had its price target cut by Cantor Fitzgerald from $13.00 to $8.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently commented on DOMO. Citigroup downgraded shares of Domo from an “outperform” rating to an “underperform” rating in a research note on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Domo in a research report on Wednesday, January 21st. Lake Street Capital dropped their target price on shares of Domo from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, December 5th. Citizens Jmp reaffirmed an “underperform” rating and set a $3.50 target price on shares of Domo in a research report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Domo from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Domo currently has an average rating of “Hold” and an average price target of $8.64.

Domo Stock Up 1.7%

Shares of Domo stock opened at $4.71 on Wednesday. The stock’s fifty day moving average is $5.38 and its two-hundred day moving average is $10.26. The company has a market capitalization of $196.88 million, a PE ratio of -3.25 and a beta of 1.70. Domo has a 52 week low of $3.45 and a 52 week high of $18.49.

Domo (NASDAQ:DOMO) last released its earnings results on Tuesday, March 10th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The business had revenue of $79.63 million during the quarter, compared to analyst estimates of $78.65 million. The business’s revenue for the quarter was up 1% on a year-over-year basis. As a group, research analysts anticipate that Domo will post -2.1 earnings per share for the current year.

Institutional Trading of Domo

Several institutional investors and hedge funds have recently made changes to their positions in DOMO. RPD Fund Management LLC raised its holdings in shares of Domo by 11,294.3% in the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock valued at $30,545,000 after acquiring an additional 3,591,600 shares in the last quarter. Capital Research Global Investors bought a new position in Domo during the 3rd quarter worth about $43,560,000. Portolan Capital Management LLC grew its holdings in Domo by 142.3% during the 3rd quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock worth $42,526,000 after acquiring an additional 1,576,884 shares in the last quarter. Captrust Financial Advisors purchased a new position in Domo during the 4th quarter valued at about $8,108,000. Finally, Marshall Wace LLP increased its position in Domo by 2,255.4% during the 2nd quarter. Marshall Wace LLP now owns 771,737 shares of the company’s stock valued at $10,781,000 after purchasing an additional 738,973 shares during the period. 76.64% of the stock is currently owned by institutional investors.

About Domo

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.