Domo (DOMO) Price Target Increased to $27.00 by Analysts at Credit Suisse Group

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Domo (NASDAQ:DOMO) had its price target boosted by Credit Suisse Group from $25.00 to $27.00 in a report released on Friday. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley increased their price objective on shares of Domo from $28.00 to $29.00 and gave the stock an overweight rating in a research report on Friday. JMP Securities increased their price objective on shares of Domo from $30.00 to $35.00 and gave the stock an outperform rating in a research report on Friday. UBS Group assumed coverage on shares of Domo in a research report on Tuesday, July 24th. They issued a neutral rating and a $20.00 price objective on the stock. Susquehanna Bancshares assumed coverage on shares of Domo in a research report on Friday, July 13th. They issued a positive rating and a $24.00 price objective on the stock. Finally, Cowen assumed coverage on shares of Domo in a research report on Tuesday, July 24th. They issued an outperform rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Domo currently has a consensus rating of Buy and an average target price of $27.00.

Domo stock traded down $2.46 during midday trading on Friday, reaching $19.26. The stock had a trading volume of 5,914,406 shares, compared to its average volume of 390,614. Domo has a 52-week low of $15.79 and a 52-week high of $28.86.

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

In related news, CFO Bruce C. Jr. Felt bought 3,500 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 $73,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joshua G. James bought 101,700 shares of Domo stock in a transaction dated Tuesday, July 3rd. The shares were bought at an average cost of $21.00 per share, for a total transaction of $2,135,700.00. The disclosure for this purchase can be found here.

Large investors have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Domo during the second quarter worth approximately $250,000. Crosslink Capital Inc. purchased a new position in shares of Domo during the second quarter worth approximately $273,000. Bank of New York Mellon Corp purchased a new position in shares of Domo during the second quarter worth approximately $389,000. Engle Capital Management L.P. purchased a new position in shares of Domo during the second quarter worth approximately $928,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Domo during the second quarter worth approximately $1,029,000. 53.60% of the stock is currently 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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