Analysts Set Domo, Inc. (NASDAQ:DOMO) PT at $3.95

Shares of Domo, Inc. (NASDAQ:DOMO) have received a consensus recommendation of “Reduce” from the nine analysts that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.9543.

A number of brokerages recently weighed in on DOMO. DA Davidson reaffirmed a “neutral” rating and set a $3.50 price objective on shares of Domo in a research report on Tuesday, June 16th. Stephens downgraded shares of Domo from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $5.00 to $4.00 in a report on Thursday, July 23rd. UBS Group reissued a “market underperform” rating on shares of Domo in a research report on Monday. Cantor Fitzgerald cut shares of Domo from an “overweight” rating to a “hold” rating and set a $4.84 price target on the stock. in a report on Thursday, July 23rd. Finally, Citigroup restated a “market underperform” rating on shares of Domo in a report on Monday.

Domo Stock Down 2.6%

DOMO opened at $3.81 on Friday. The business has a fifty day moving average of $3.34 and a 200 day moving average of $3.70. The stock has a market cap of $172.01 million, a P/E ratio of -2.86 and a beta of 1.76. Domo has a 52-week low of $1.84 and a 52-week high of $18.49.

Insiders Place Their Bets

In related news, insider Rpd Fund Management Llc sold 39,034 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $4.46, for a total value of $174,091.64. Following the completion of the sale, the insider owned 4,187,809 shares of the company’s stock, valued at approximately $18,677,628.14. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Daren Thayne sold 52,365 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total transaction of $124,628.70. Following the completion of the transaction, the executive vice president owned 498,051 shares in the company, valued at $1,185,361.38. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 394,396 shares of company stock valued at $1,218,566. Company insiders own 13.25% of the company’s stock.

Institutional Investors Weigh In On Domo

Institutional investors and hedge funds have recently bought and sold shares of the business. Brevan Howard Capital Management LP grew its stake in shares of Domo by 3.9% in the 3rd quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company’s stock worth $804,000 after purchasing an additional 1,924 shares during the last quarter. Verition Fund Management LLC lifted its stake in Domo by 8.1% during the fourth quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock valued at $302,000 after purchasing an additional 2,679 shares during the last quarter. Creative Planning lifted its stake in Domo by 23.2% during the second quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after purchasing an additional 2,889 shares during the last quarter. Headlands Technologies LLC bought a new stake in Domo during the second quarter worth approximately $42,000. Finally, Rhumbline Advisers boosted its holdings in Domo by 9.6% during the second quarter. Rhumbline Advisers now owns 54,308 shares of the company’s stock worth $759,000 after buying an additional 4,751 shares in the last quarter. 76.64% of the stock is owned by institutional investors and hedge funds.

About Domo

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.