Domo, Inc. (NASDAQ:DOMO) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• Analyst sentiment is cautious: Nine analysts give Domo a consensus “Reduce” rating, including three sells, five holds and one buy. The average 12-month price target is approximately $3.95.
• Shares remain volatile and depressed: Domo opened at $3.91, with a market capitalization of about $176.5 million and a 52-week trading range of $1.84 to $18.49. Several analysts recently downgraded the stock or lowered their price targets, although Lake Street upgraded it to “buy.”
• Insiders have been selling while institutions hold a large stake: Executives sold 443,979 shares worth roughly $1.4 million over the past 90 days, while institutional investors own 76.64% of Domo’s stock.

Shares of Domo, Inc. (NASDAQ:DOMO - Get Free Report) have received a consensus recommendation of "Reduce" from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $3.9543.

Several equities analysts have commented on DOMO shares. TD Cowen lowered shares of Domo from a "buy" rating to a "hold" rating and decreased their target price for the company from $6.00 to $3.25 in a report on Tuesday, June 16th. Stephens downgraded shares of Domo from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $5.00 to $4.00 in a report on Thursday, July 23rd. DA Davidson reiterated a "neutral" rating and set a $3.50 price target on shares of Domo in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Domo from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 1st. Finally, Lake Street Capital raised shares of 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 research note on Thursday, July 23rd.

Domo Stock Down 1.8%

DOMO stock opened at $3.91 on Friday. The company has a market cap of $176.52 million, a PE ratio of -2.94 and a beta of 1.76. The business has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $3.73. Domo has a 52 week low of $1.84 and a 52 week high of $18.49.

Insiders Place Their Bets

In other news, CFO Tod Crane sold 68,483 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $162,989.54. Following the completion of the transaction, the chief financial officer owned 276,809 shares of the company's stock, valued at approximately $658,805.42. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joshua G. James sold 96,088 shares of the business's 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 directly owned 1,638,873 shares of the company's stock, valued at $3,900,517.74. This trade represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 443,979 shares of company stock worth $1,404,324. 13.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOMO. RPD Fund Management LLC lifted its holdings in shares of Domo by 27.3% in the first quarter. RPD Fund Management LLC now owns 4,613,726 shares of the company's stock worth $14,118,000 after acquiring an additional 990,326 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Domo by 8.2% in the 4th quarter. Capital Research Global Investors now owns 2,975,558 shares of the company's stock valued at $25,084,000 after purchasing an additional 225,558 shares in the last quarter. AIGH Capital Management LLC grew its holdings in shares of Domo by 37.0% during the 4th quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company's stock valued at $15,492,000 after purchasing an additional 496,244 shares during the last quarter. State Street Corp grew its holdings in shares of Domo by 33.9% during the 4th quarter. State Street Corp now owns 1,285,753 shares of the company's stock valued at $10,839,000 after purchasing an additional 325,239 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in Domo during the 4th quarter worth approximately $8,108,000. Institutional investors own 76.64% of the company's stock.

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.

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