Domo, Inc. (NASDAQ:DOMO) Receives $3.95 Consensus Target Price from Analysts

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

Several equities analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating and issued a $3.50 target price on shares of Domo in a report on Tuesday, June 16th. Citizens Jmp restated a “market underperform” rating and set a $2.25 price target on shares of Domo in a report on Monday, August 17th. TD Cowen lowered shares of Domo from a “buy” rating to a “hold” rating and reduced their price target for the company from $6.00 to $3.25 in a research report on Tuesday, June 16th. Lake Street Capital upgraded Domo from a “hold” rating to a “buy” rating and decreased their price objective for the company from $7.00 to $5.00 in a report on Thursday, July 23rd. Finally, Weiss Ratings upgraded Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st.

Insider Activity

In related news, EVP Daren Thayne sold 52,365 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was 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 of the company’s stock, valued at approximately $1,185,361.38. This trade represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joshua G. James sold 96,088 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total transaction of $228,689.44. Following the completion of the sale, the chief executive officer owned 1,638,873 shares in the company, valued at approximately $3,900,517.74. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,936 shares of company stock valued at $516,308 in the last quarter. Insiders own 13.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DOMO. RPD Fund Management LLC raised its stake in shares of Domo by 27.3% in the 1st quarter. RPD Fund Management LLC now owns 4,613,726 shares of the company’s stock valued at $14,118,000 after acquiring an additional 990,326 shares during the period. Capital Research Global Investors boosted its position in shares of Domo by 8.2% during the 4th quarter. Capital Research Global Investors now owns 2,975,558 shares of the company’s stock worth $25,084,000 after purchasing an additional 225,558 shares during the period. Prelude Capital Management LLC acquired a new stake in Domo in the 3rd quarter valued at approximately $352,000. Graham Capital Management L.P. increased its holdings in Domo by 86.7% in the 4th quarter. Graham Capital Management L.P. now owns 39,117 shares of the company’s stock valued at $330,000 after purchasing an additional 18,168 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in Domo in the second quarter valued at approximately $327,000. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Domo Stock Up 1.3%

Shares of DOMO opened at $3.83 on Wednesday. Domo has a 52-week low of $1.84 and a 52-week high of $18.49. The stock has a fifty day simple moving average of $3.71 and a two-hundred day simple moving average of $3.56. The company has a market capitalization of $172.92 million, a PE ratio of -2.88 and a beta of 1.76.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, September 3rd. The company reported ($0.21) earnings per share for the quarter. The firm had revenue of $76.78 million for the quarter, compared to analysts’ expectations of $78.06 million. As a group, equities analysts anticipate that Domo will post -1.41 earnings per share for the current fiscal year.

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.