Domo (NASDAQ:DOMO) Upgraded by Cantor Fitzgerald to “Strong-Buy” Rating

Cantor Fitzgerald upgraded shares of Domo (NASDAQ:DOMO) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also commented on DOMO. TD Cowen lifted their price target on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 29th. Lake Street Capital lifted their price target on Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.25.

Domo Stock Down 3.5 %

Shares of DOMO opened at $7.62 on Tuesday. Domo has a 52-week low of $6.11 and a 52-week high of $11.87. The firm’s fifty day moving average is $7.75 and its two-hundred day moving average is $7.88. The stock has a market cap of $298.00 million, a PE ratio of -3.48 and a beta of 2.49.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, December 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.27). The business had revenue of $79.68 million for the quarter, compared to the consensus estimate of $77.56 million. The business’s revenue was down .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.

Hedge Funds Weigh In On Domo

Institutional investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Domo in the 4th quarter valued at about $47,000. R Squared Ltd acquired a new position in Domo in the 4th quarter valued at about $56,000. Riggs Capital Management LLC acquired a new position in Domo in the 4th quarter valued at about $85,000. XTX Topco Ltd acquired a new position in Domo in the 3rd quarter valued at about $97,000. Finally, SG Americas Securities LLC grew its position in Domo by 19.1% in 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 in the last quarter. 76.64% of the stock is owned by institutional investors and hedge funds.

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.