Domo, Inc. (NASDAQ:DOMO) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Domo, Inc. has received a consensus rating of "Moderate Buy", with five analysts recommending a hold, three a buy, and one a strong buy.
• The average one-year target price set by analysts for Domo's stock is $13.14, while recent reports have suggested targets as high as $20.00.
• Insider trading activity includes CEO Joshua G. James purchasing 13,025 shares at an average cost of $12.74 per share, increasing his ownership position in the company.

Shares of Domo, Inc. (NASDAQ:DOMO - Get Free Report) have been given an average rating of "Moderate Buy" by the nine brokerages that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.1429.

DOMO has been the topic of several analyst reports. Lake Street Capital restated a "hold" rating and set a $9.00 price objective (up from $8.50) on shares of Domo in a report on Thursday, May 22nd. Cowen restated a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Morgan Stanley cut their price target on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Citigroup reissued an "outperform" rating on shares of Domo in a report on Wednesday, June 25th. Finally, DA Davidson upped their target price on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd.

Domo Stock Performance

Shares of DOMO stock traded down $0.10 on Tuesday, hitting $16.24. The stock had a trading volume of 234,508 shares, compared to its average volume of 513,935. The stock's 50 day moving average is $14.48 and its 200-day moving average is $10.43. The firm has a market capitalization of $653.46 million, a price-to-earnings ratio of -8.58 and a beta of 1.87. Domo has a 52-week low of $6.01 and a 52-week high of $16.95.

Domo (NASDAQ:DOMO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.10. The firm had revenue of $80.11 million during the quarter, compared to analysts' expectations of $77.75 million. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) earnings per share. Equities analysts expect that Domo will post -2.1 earnings per share for the current year.

Insider Activity at Domo

In other Domo news, CEO Joshua G. James acquired 13,025 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average price of $12.74 per share, with a total value of $165,938.50. Following the transaction, the chief executive officer directly owned 1,079,972 shares in the company, valued at approximately $13,758,843.28. This represents a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.24% of the company's stock.

Hedge Funds Weigh In On Domo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in shares of Domo by 53.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,838 shares of the company's stock worth $26,000 after purchasing an additional 642 shares during the period. FNY Investment Advisers LLC acquired a new stake in Domo in the second quarter worth $49,000. AlphaQuest LLC lifted its stake in Domo by 707.3% in the second quarter. AlphaQuest LLC now owns 6,604 shares of the company's stock valued at $92,000 after buying an additional 5,786 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Domo by 26.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,181 shares of the company's stock valued at $142,000 after buying an additional 2,109 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Domo during the second quarter worth about $197,000. 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.