JMP Securities Increases Domo (DOMO) Price Target to $35.00

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Domo (NASDAQ:DOMO) had its price target boosted by JMP Securities from $30.00 to $35.00 in a research report issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 81.72% from the company’s previous close.

DOMO has been the topic of several other reports. Morgan Stanley initiated coverage on Domo in a report on Tuesday, July 24th. They issued an “overweight” rating and a $28.00 target price on the stock. William Blair initiated coverage on Domo in a report on Tuesday, July 24th. They issued an “outperform” rating on the stock. Credit Suisse Group initiated coverage on Domo in a report on Tuesday, July 24th. They issued an “outperform” rating and a $25.00 target price on the stock. Cowen initiated coverage on Domo in a report on Tuesday, July 24th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Susquehanna Bancshares initiated coverage on Domo in a report on Friday, July 13th. They issued a “positive” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Domo presently has an average rating of “Buy” and a consensus price target of $27.00.

NASDAQ DOMO opened at $19.26 on Friday. Domo has a 1-year low of $15.79 and a 1-year high of $28.86.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, September 6th. The company reported ($3.44) EPS for the quarter, topping the consensus estimate of ($3.93) by $0.49. The business had revenue of $34.30 million during the quarter, compared to analyst estimates of $32.02 million. Domo’s quarterly revenue was up 32.4% on a year-over-year basis. sell-side analysts predict that Domo will post -9.9 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of DOMO. Legal & General Group Plc bought a new position in Domo in the 2nd quarter worth approximately $250,000. Crosslink Capital Inc. bought a new position in Domo in the 2nd quarter worth approximately $273,000. Bank of New York Mellon Corp bought a new position in Domo in the 2nd quarter worth approximately $389,000. Engle Capital Management L.P. bought a new position in Domo in the 2nd quarter worth approximately $928,000. Finally, GSA Capital Partners LLP bought a new position in Domo in the 2nd quarter worth approximately $1,029,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.

About Domo

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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