Domo’s (DOMO) “Market Outperform” Rating Reaffirmed at JMP Securities

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

Several other brokerages also recently commented on DOMO. Morgan Stanley reduced their target price on shares of Domo from $13.00 to $7.00 and set an equal weight rating on the stock in a research note on Friday, May 24th. Lake Street Capital downgraded shares of Domo from a buy rating to a hold rating and reduced their target price for the company from $15.00 to $8.00 in a research note on Friday, May 24th. DA Davidson restated a neutral rating and issued a $10.00 target price on shares of Domo in a research note on Thursday, March 28th. Finally, TD Cowen reduced their target price on shares of Domo from $11.50 to $10.00 and set a hold rating on the stock in a research note on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Domo currently has a consensus rating of Hold and a consensus price target of $10.20.

Domo Price Performance

Shares of Domo stock opened at $6.90 on Thursday. The firm has a market capitalization of $263.37 million, a PE ratio of -3.29 and a beta of 2.33. The company’s fifty day moving average price is $7.21 and its two-hundred day moving average price is $9.09. 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 the consensus estimate of ($0.64) by ($0.07). The business had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $79.57 million. Analysts predict that Domo will post -2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Domo by 2.3% during the 1st 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 period. Acadian Asset Management LLC lifted its position in Domo by 43.8% during the 1st 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 period. Jacobs Levy Equity Management Inc. lifted its position in Domo by 0.4% during the 1st 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 period. Invenomic Capital Management LP increased its stake in shares of Domo by 42.1% in the 1st quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock valued at $2,827,000 after acquiring an additional 93,858 shares during the last quarter. Finally, B. Riley Asset Management LLC bought a new stake in shares of Domo in the 3rd quarter valued at about $2,517,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

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.