Domo (NASDAQ:DOMO) Now Covered by Analysts at Stephens

Stephens initiated coverage on shares of Domo (NASDAQ:DOMO - Free Report) in a research report released on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $19.00 target price on the stock.

Several other equities research analysts have also issued reports on the stock. JMP Securities raised their target price on shares of Domo from $16.00 to $20.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 25th. Cowen reiterated a "hold" rating on shares of Domo in a report on Thursday, May 22nd. Morgan Stanley decreased their price objective on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Domo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Citigroup reiterated an "outperform" rating on shares of Domo in a report on Wednesday, June 25th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.14.

Domo Stock Performance

Shares of NASDAQ DOMO traded down $0.48 during midday trading on Friday, reaching $15.81. The stock had a trading volume of 917,682 shares, compared to its average volume of 424,663. The stock has a 50-day moving average of $12.78 and a 200-day moving average of $9.58. The company has a market capitalization of $636.19 million, a price-to-earnings ratio of -8.37 and a beta of 1.84. Domo has a 12-month low of $6.01 and a 12-month high of $16.57.

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

Insider Activity at Domo

In other news, CEO Joshua G. James acquired 13,025 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was 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 owned 1,079,972 shares of the company's stock, valued at $13,758,843.28. This trade represents a 1.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Domo

A number of institutional investors have recently made changes to their positions in the stock. Rockwood Wealth Management LLC grew its holdings in shares of Domo by 122.6% in the second quarter. Rockwood Wealth Management LLC now owns 46,719 shares of the company's stock valued at $653,000 after purchasing an additional 25,735 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Domo by 22.5% in the first quarter. Goldman Sachs Group Inc. now owns 172,680 shares of the company's stock worth $1,340,000 after acquiring an additional 31,740 shares during the last quarter. Rhumbline Advisers lifted its stake in Domo by 5.0% in the first quarter. Rhumbline Advisers now owns 49,557 shares of the company's stock worth $385,000 after acquiring an additional 2,369 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Domo by 3.0% during the first quarter. Acadian Asset Management LLC now owns 1,415,884 shares of the company's stock worth $10,987,000 after purchasing an additional 41,194 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in Domo by 3.7% during the first quarter. Woodline Partners LP now owns 617,610 shares of the company's stock worth $4,793,000 after purchasing an additional 21,926 shares in the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.

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.