Domo (NASDAQ:DOMO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Domo (NASDAQ:DOMO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

DOMO has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $17.00 price objective on shares of Domo in a research report on Wednesday, June 25th. Cowen reiterated a “hold” rating on shares of Domo in a research report on Thursday, May 22nd. Lake Street Capital reiterated a “hold” rating and set a $9.00 price objective (up from $8.50) on shares of Domo in a research report on Thursday, May 22nd. DA Davidson boosted their price objective on Domo from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Finally, Stephens assumed coverage on Domo in a research report on Friday, July 18th. They set an “overweight” rating and a $19.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

Domo Stock Up 5.0%

Shares of DOMO stock opened at $14.82 on Friday. The business has a 50 day moving average of $14.61 and a two-hundred day moving average of $10.80. Domo has a 52 week low of $6.01 and a 52 week high of $16.95. The company has a market cap of $596.36 million, a P/E ratio of -7.84 and a beta of 1.87.

Domo (NASDAQ:DOMO) last issued its earnings results on Wednesday, May 21st. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. The company had revenue of $80.11 million during the quarter, compared to analyst estimates of $77.75 million. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. The business’s revenue was up .0% on a year-over-year basis. Analysts expect that Domo will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joshua G. James bought 13,025 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average price of $12.74 per share, with a total value of $165,938.50. Following the completion of the acquisition, the chief executive officer directly owned 1,079,972 shares in the company, valued at approximately $13,758,843.28. This trade represents a 1.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Domo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOMO. JPMorgan Chase & Co. raised its holdings in Domo by 22.7% during the fourth quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company’s stock worth $4,553,000 after purchasing an additional 118,957 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Domo by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 770,810 shares of the company’s stock valued at $5,458,000 after buying an additional 11,457 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Domo by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock valued at $125,000 after buying an additional 4,000 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Domo in the fourth quarter valued at $173,000. Finally, Barclays PLC increased its holdings in shares of Domo by 3.7% in the fourth quarter. Barclays PLC now owns 82,573 shares of the company’s stock valued at $584,000 after buying an additional 2,962 shares in the last quarter. Institutional investors own 76.64% of the company’s stock.

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.