Domo (NASDAQ:DOMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $19.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.31% from the stock’s previous close.

According to Zacks, “Domo, Inc. designs and develops enterprise software. The Company offers a cloud-based executive management platform which gives users direct and real-time access to business information for industries including media and marketing, telecommunication, retail, travel and leisure, technology and financial services. Domo, Inc. is based in United States. “

DOMO has been the topic of a number of other research reports. UBS Group reduced their target price on Domo from $28.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday. Credit Suisse Group lowered Domo from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $20.00 in a research report on Friday, September 6th. Morgan Stanley set a $47.00 target price on Domo and gave the company a “buy” rating in a research note on Friday, June 7th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target (down from $50.00) on shares of Domo in a research report on Friday, September 6th. Finally, JMP Securities dropped their price target on Domo from $47.00 to $37.00 and set a “market outperform” rating on the stock in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $29.00.

Shares of NASDAQ DOMO traded down $0.05 during midday trading on Wednesday, hitting $17.07. 2,013,446 shares of the company traded hands, compared to its average volume of 815,920. Domo has a 12-month low of $13.28 and a 12-month high of $47.08. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a 50-day moving average price of $24.96 and a 200 day moving average price of $32.02. The firm has a market cap of $436.57 million, a P/E ratio of -1.81 and a beta of 0.86.

Domo (NASDAQ:DOMO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.23) by $0.27. Domo had a negative net margin of 81.35% and a negative return on equity of 291.36%. The company had revenue of $41.70 million during the quarter, compared to the consensus estimate of $41.68 million. During the same period in the prior year, the firm earned ($3.44) earnings per share. Domo’s revenue was up 21.6% on a year-over-year basis. As a group, equities analysts expect that Domo will post -4.82 earnings per share for the current year.

In other Domo news, CEO Joshua G. James acquired 60,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $1,020,000.00. 21.97% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of DOMO. Edge Wealth Management LLC bought a new stake in Domo in the second quarter worth $33,000. Tower Research Capital LLC TRC bought a new position in shares of Domo during the second quarter valued at $35,000. Point72 Hong Kong Ltd increased its holdings in shares of Domo by 100.3% during the second quarter. Point72 Hong Kong Ltd now owns 2,879 shares of the company’s stock valued at $79,000 after acquiring an additional 1,442 shares in the last quarter. Bank of Montreal Can raised its position in shares of Domo by 412.9% in the 2nd quarter. Bank of Montreal Can now owns 1,831 shares of the company’s stock worth $51,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Domo by 6.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 38,667 shares of the company’s stock worth $1,057,000 after purchasing an additional 2,290 shares during the last quarter. 64.17% of the stock is owned by institutional investors.

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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