Domo (DOMO) PT Raised to $29.00 at Morgan Stanley

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Domo (NASDAQ:DOMO) had its price objective boosted by research analysts at Morgan Stanley from $28.00 to $29.00 in a research note issued to investors on Friday. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 12.32% from the company’s current price.

Several other brokerages also recently commented on DOMO. JMP Securities reaffirmed an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Domo in a research report on Friday. Susquehanna Bancshares began coverage on Domo in a research report on Friday, July 13th. They issued a “positive” rating and a $24.00 price objective on the stock. Credit Suisse Group began coverage on Domo in a research report on Tuesday, July 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. Cowen started coverage on Domo in a research report on Tuesday, July 24th. They issued an “outperform” rating and a $27.00 price objective on the stock. Finally, William Blair started coverage on Domo in a report on Tuesday, July 24th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.67.

Shares of NASDAQ DOMO traded up $4.10 during trading hours on Friday, hitting $25.82. 19,140 shares of the company traded hands, compared to its average volume of 382,091. Domo has a 12 month low of $15.79 and a 12 month high of $28.86.

In other news, CFO Bruce C. Jr. Felt bought 3,500 shares of the stock in a transaction on Tuesday, July 3rd. The stock was acquired at an average cost of $21.00 per share, for a total transaction of $73,500.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joshua G. James bought 101,700 shares of the stock in a transaction on Tuesday, July 3rd. The stock was purchased at an average price of $21.00 per share, with a total value of $2,135,700.00. The disclosure for this purchase can be found here.

Hedge funds have recently modified their holdings of the business. Engle Capital Management L.P. purchased a new stake in shares of Domo in the 2nd quarter worth $928,000. TCW Group Inc. purchased a new stake in shares of Domo in the 2nd quarter worth $3,914,000. TD Asset Management Inc. purchased a new stake in shares of Domo in the 2nd quarter worth $2,730,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Domo in the 2nd quarter worth $8,969,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Domo in the 2nd quarter worth $389,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

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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Analyst Recommendations for Domo (NASDAQ:DOMO)

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