Domo (DOMO) Given New $40.00 Price Target at Credit Suisse Group
Domo (NASDAQ:DOMO) had its price target lifted by Credit Suisse Group from $27.00 to $40.00 in a research report sent to investors on Thursday morning, The Fly reports. They currently have an outperform rating on the stock.
Several other brokerages have also recently commented on DOMO. Morgan Stanley boosted their target price on shares of Domo from $29.00 to $38.00 and gave the company an overweight rating in a research report on Thursday, March 7th. Needham & Company LLC boosted their target price on shares of Domo from $27.00 to $37.00 and gave the company a buy rating in a research report on Tuesday, March 12th. Finally, Zacks Investment Research cut shares of Domo from a hold rating to a sell rating in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $32.13.
Shares of NASDAQ:DOMO opened at $41.71 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.04 and a current ratio of 2.04. Domo has a 12 month low of $13.28 and a 12 month high of $41.85.
A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in Domo by 1.5% during the 4th quarter. Northern Trust Corp now owns 106,282 shares of the company’s stock worth $2,087,000 after purchasing an additional 1,574 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Domo during the 3rd quarter worth approximately $113,000. American International Group Inc. acquired a new position in Domo during the 3rd quarter worth approximately $114,000. Bank of New York Mellon Corp increased its position in Domo by 46.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,908 shares of the company’s stock worth $448,000 after purchasing an additional 6,654 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Domo by 420.3% during the 4th quarter. Bank of America Corp DE now owns 8,809 shares of the company’s stock worth $173,000 after purchasing an additional 7,116 shares in the last quarter. Institutional investors and hedge funds own 65.56% of the company’s stock.
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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