Analysts Set Domo Inc (DOMO) Target Price at $26.43

Domo Inc (NASDAQ:DOMO) has been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.43.

DOMO has been the subject of several analyst reports. Zacks Investment Research raised shares of Domo from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, September 25th. UBS Group initiated coverage on shares of Domo in a report on Tuesday, July 24th. They set a “neutral” rating and a $20.00 price target for the company. Credit Suisse Group initiated coverage on shares of Domo in a report on Tuesday, July 24th. They set an “outperform” rating and a $25.00 price target for the company. Cowen initiated coverage on shares of Domo in a report on Tuesday, July 24th. They set an “outperform” rating and a $27.00 price target for the company. Finally, JMP Securities initiated coverage on shares of Domo in a report on Tuesday, July 24th. They set an “outperform” rating and a $30.00 price target for the company.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Domo in the second quarter worth about $108,291,000. Institutional Venture Management XIII LLC bought a new position in shares of Domo in the second quarter worth about $37,335,000. TPG Group Holdings SBS Advisors Inc. bought a new position in shares of Domo in the second quarter worth about $20,586,000. Sylebra HK Co Ltd bought a new position in shares of Domo in the second quarter worth about $10,920,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new position in shares of Domo in the second quarter worth about $8,969,000. 50.84% of the stock is owned by hedge funds and other institutional investors.

Shares of Domo stock traded down $0.15 during trading on Thursday, hitting $16.53. 201,757 shares of the company’s stock traded hands, compared to its average volume of 414,173. Domo has a twelve month low of $15.43 and a twelve month high of $28.86.

Domo (NASDAQ:DOMO) last issued its earnings results on Thursday, September 6th. The company reported ($3.44) earnings per share for the quarter, beating the consensus estimate of ($3.93) by $0.49. The business had revenue of $34.30 million for the quarter, compared to analyst estimates of $32.02 million. The company’s quarterly revenue was up 32.4% on a year-over-year basis. Research analysts forecast that Domo will post -9.55 earnings per share for the current year.

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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Analyst Recommendations for Domo (NASDAQ:DOMO)

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