Domo (NASDAQ:DOMO) Posts Earnings Results

Domo (NASDAQ:DOMO) announced its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, reports. The company had revenue of $76.78 million for the quarter, compared to the consensus estimate of $78.06 million.

Domo Stock Up 2.4%

Shares of NASDAQ:DOMO opened at $3.88 on Friday. The firm’s 50 day moving average price is $3.66 and its 200-day moving average price is $3.57. Domo has a twelve month low of $1.84 and a twelve month high of $18.49. The stock has a market capitalization of $175.19 million, a PE ratio of -2.92 and a beta of 1.76.

Insider Activity at Domo

In related news, EVP Daren Thayne sold 52,365 shares of the business’s 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 sale, the executive vice president directly owned 498,051 shares in the company, valued at approximately $1,185,361.38. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Tod Crane sold 68,483 shares of the company’s 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 $162,989.54. Following the sale, the chief financial officer directly owned 276,809 shares of the company’s stock, valued at approximately $658,805.42. This represents a 19.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 216,936 shares of company stock worth $516,308. 13.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. RPD Fund Management LLC lifted its position in shares of Domo by 11,294.3% in the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock valued at $30,545,000 after acquiring an additional 3,591,600 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Domo during the 4th quarter valued at approximately $8,108,000. First Trust Advisors LP bought a new stake in shares of Domo during the third quarter valued at approximately $9,744,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Domo by 299.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 576,897 shares of the company’s stock worth $4,863,000 after buying an additional 432,426 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Domo by 159.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 684,365 shares of the company’s stock worth $5,769,000 after acquiring an additional 420,093 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOMO. Stephens lowered 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. Lake Street Capital raised Domo from a “hold” rating to a “buy” rating and lowered their price target for the company from $7.00 to $5.00 in a report on Thursday, July 23rd. TD Cowen cut Domo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $3.25 in a research report on Tuesday, June 16th. Citizens Jmp reiterated a “market underperform” rating and issued a $2.25 price objective on shares of Domo in a report on Monday, August 17th. Finally, UBS Group reissued a “market underperform” rating on shares of Domo in a research report on Monday, August 17th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Domo has a consensus rating of “Reduce” and an average price target of $3.95.

Domo Company Profile

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.