Domo (NASDAQ:DOMO) Rating Reiterated by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Domo (NASDAQ:DOMO) in a research note released on Thursday, Benzinga reports. They currently have a $16.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. Lake Street Capital downgraded shares of Domo from a buy rating to a hold rating and reduced their price objective for the stock from $15.00 to $8.00 in a research note on Friday, May 24th. TD Cowen reduced their price objective on shares of Domo from $11.50 to $10.00 and set a hold rating for the company in a research note on Tuesday, May 21st. Morgan Stanley reduced their price objective on shares of Domo from $13.00 to $7.00 and set an equal weight rating for the company in a research note on Friday, May 24th. Finally, DA Davidson reissued a neutral rating and issued a $10.00 price objective on shares of Domo in a research note on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $10.20.

Domo Stock Performance

Shares of NASDAQ DOMO opened at $6.77 on Thursday. The firm has a market capitalization of $258.41 million, a price-to-earnings ratio of -3.22 and a beta of 2.33. The stock has a 50 day moving average price of $7.18 and a 200 day moving average price of $9.06. Domo has a 52-week low of $6.11 and a 52-week high of $18.19.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, May 23rd. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.07). The company had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $79.57 million. Analysts forecast that Domo will post -2.4 earnings per share for the current year.

Insider Transactions at Domo

In related news, EVP Daren Thayne sold 22,500 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $9.04, for a total value of $203,400.00. Following the transaction, the executive vice president now directly owns 343,758 shares of the company’s stock, valued at approximately $3,107,572.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO David R. Jolley sold 12,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $8.50, for a total value of $102,000.00. Following the transaction, the chief financial officer now directly owns 215,543 shares of the company’s stock, valued at approximately $1,832,115.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daren Thayne sold 22,500 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $9.04, for a total transaction of $203,400.00. Following the completion of the sale, the executive vice president now directly owns 343,758 shares in the company, valued at $3,107,572.32. The disclosure for this sale can be found here. Insiders own 14.04% of the company’s stock.

Institutional Investors Weigh In On Domo

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Domo by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,826,254 shares of the company’s stock valued at $43,050,000 after purchasing an additional 108,200 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Domo by 43.8% in the first quarter. Acadian Asset Management LLC now owns 984,107 shares of the company’s stock valued at $8,775,000 after purchasing an additional 299,747 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Domo by 0.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 628,503 shares of the company’s stock valued at $5,606,000 after purchasing an additional 2,501 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in Domo by 42.1% in the first quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock valued at $2,827,000 after purchasing an additional 93,858 shares during the last quarter. Finally, B. Riley Asset Management LLC purchased a new stake in Domo in the third quarter valued at $2,517,000. 76.64% of the stock is owned by hedge funds and other institutional investors.

Domo Company Profile

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.