Domo, Inc. (NASDAQ:DOMO) Given Average Recommendation of “Reduce” by Analysts

Shares of Domo, Inc. (NASDAQ:DOMO) have received an average rating of “Reduce” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.8333.

A number of research analysts have recently commented on DOMO shares. Citizens Jmp dropped their price objective on shares of Domo from $3.50 to $2.25 and set a “market underperform” rating for the company in a research note on Tuesday, June 16th. Stephens restated an “overweight” rating on shares of Domo in a report on Tuesday, June 16th. Wall Street Zen lowered shares of Domo from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Weiss Ratings raised shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Finally, TD Cowen lowered shares of Domo from a “buy” rating to a “hold” rating and decreased their price target for the company from $6.00 to $3.25 in a report on Tuesday, June 16th.

Insider Transactions at Domo

In related news, CEO Joshua G. James sold 96,088 shares of Domo stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $228,689.44. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tod Crane sold 68,483 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $162,989.54. Following the sale, the chief financial officer owned 276,809 shares of the company’s stock, valued at $658,805.42. This represents a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,567,562 shares of company stock valued at $4,301,792. Corporate insiders own 13.25% of the company’s stock.

Hedge Funds Weigh In On Domo

Large investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Domo by 17.5% during the 1st quarter. AQR Capital Management LLC now owns 40,231 shares of the company’s stock worth $312,000 after purchasing an additional 5,985 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Domo in the first quarter valued at approximately $237,000. Goldman Sachs Group Inc. raised its holdings in Domo by 22.5% in the first quarter. Goldman Sachs Group Inc. now owns 172,680 shares of the company’s stock valued at $1,340,000 after buying an additional 31,740 shares during the period. Creative Planning lifted its position in Domo by 23.2% during the second quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after buying an additional 2,889 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Domo by 9.6% during the second quarter. Rhumbline Advisers now owns 54,308 shares of the company’s stock valued at $759,000 after buying an additional 4,751 shares in the last quarter. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

Domo Stock Up 3.5%

DOMO stock opened at $3.54 on Friday. The stock has a market capitalization of $159.83 million, a price-to-earnings ratio of -2.66 and a beta of 1.79. Domo has a 52-week low of $1.84 and a 52-week high of $18.49. The stock’s fifty day simple moving average is $3.40 and its 200-day simple moving average is $4.63.

Domo (NASDAQ:DOMO) last released its earnings results on Monday, June 15th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $79.40 million during the quarter, compared to analyst estimates of $79.64 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. As a group, analysts anticipate that Domo will post -1.42 earnings per share for the current fiscal year.

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.