Lake Street Capital Issues Pessimistic Forecast for Domo (NASDAQ:DOMO) Stock Price

Domo (NASDAQ:DOMO) had its target price reduced by equities research analysts at Lake Street Capital from $9.50 to $8.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Lake Street Capital’s price objective would indicate a potential upside of 3.91% from the stock’s previous close.

A number of other research analysts have also recently issued reports on DOMO. TD Cowen lifted their price target on shares of Domo from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 29th. JMP Securities reiterated a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research note on Friday, December 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of Domo in a research note on Friday. Finally, DA Davidson assumed coverage on Domo in a research report on Friday. They issued a “neutral” rating and a $8.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Domo currently has a consensus rating of “Hold” and a consensus price target of $10.08.

Domo Trading Up 16.0 %

Domo stock traded up $1.13 during trading hours on Friday, hitting $8.18. 941,889 shares of the stock traded hands, compared to its average volume of 321,595. Domo has a one year low of $6.11 and a one year high of $11.25. The firm’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $7.88. The company has a market cap of $319.90 million, a PE ratio of -3.74 and a beta of 2.56.

Domo (NASDAQ:DOMO) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The company had revenue of $78.77 million during the quarter, compared to the consensus estimate of $77.95 million. On average, sell-side analysts expect that Domo will post -2.1 earnings per share for the current fiscal year.

Institutional Trading of Domo

Institutional investors have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Domo in the fourth quarter worth $47,000. R Squared Ltd bought a new stake in Domo in the 4th quarter worth about $56,000. Riggs Capital Management LLC purchased a new position in Domo in the 4th quarter worth about $85,000. XTX Topco Ltd bought a new position in Domo during the 3rd quarter valued at about $97,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock valued at $99,000 after acquiring an additional 2,247 shares during the last quarter. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

About Domo

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.