Domo, Inc. (NASDAQ:DOMO) Receives Average Rating of “Hold” from Analysts

Domo, Inc. (NASDAQ:DOMO) has received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $10.42.

Several research analysts have weighed in on DOMO shares. Lake Street Capital dropped their target price on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research report on Friday, March 7th. Cowen restated a “hold” rating on shares of Domo in a report on Friday, March 7th. DA Davidson upgraded shares of Domo to a “hold” rating in a research note on Monday, March 10th. JMP Securities reissued a “market outperform” rating and issued a $16.00 target price on shares of Domo in a research report on Friday, December 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of Domo in a report on Thursday, March 20th.

Domo Price Performance

Shares of DOMO opened at $7.90 on Wednesday. The company has a market capitalization of $308.95 million, a price-to-earnings ratio of -3.61 and a beta of 2.56. The business’s 50-day moving average is $8.27 and its 200-day moving average is $7.97. Domo has a fifty-two week low of $6.11 and a fifty-two week high of $10.15.

Domo (NASDAQ:DOMO) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The business had revenue of $78.77 million for the quarter, compared to analysts’ expectations of $77.95 million. Equities research analysts expect that Domo will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In other Domo news, Director David R. Jolley sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the completion of the sale, the director now directly owns 255,743 shares in the company, valued at $2,125,224.33. This represents a 8.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 14.04% of the company’s stock.

Hedge Funds Weigh In On Domo

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Domo by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company’s stock valued at $36,164,000 after purchasing an additional 36,029 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Domo by 9.4% during the fourth quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company’s stock valued at $23,278,000 after buying an additional 282,943 shares during the last quarter. RPD Fund Management LLC bought a new stake in shares of Domo in the fourth quarter valued at about $15,449,000. Geode Capital Management LLC grew its position in Domo by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 770,810 shares of the company’s stock worth $5,458,000 after buying an additional 11,457 shares in the last quarter. Finally, State Street Corp increased its stake in Domo by 2.6% during the third quarter. State Street Corp now owns 750,371 shares of the company’s stock valued at $5,635,000 after acquiring an additional 19,361 shares during the period. Institutional investors and hedge funds own 76.64% of the company’s stock.

About Domo

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.