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

Key Points

• Domo has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, following a general trend among analysts with mixed opinions on the stock.
• The company's stock opened at $14.12 and has a market cap of $568.19 million, with a 52-week range between $6.01 and $16.95.
• Insider activity includes CEO Joshua G. James purchasing 13,025 shares at an average price of $12.74, reflecting confidence in the company's future.

Domo (NASDAQ:DOMO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on DOMO. Citigroup reiterated an "outperform" rating on shares of Domo in a research report on Wednesday, June 25th. Lake Street Capital reiterated a "hold" rating and issued a $9.00 price target (up previously from $8.50) on shares of Domo in a research report on Thursday, May 22nd. JMP Securities increased their price target on Domo from $16.00 to $20.00 and gave the company a "market outperform" rating in a research report on Wednesday, June 25th. Stephens began coverage on Domo in a research report on Friday, July 18th. They issued an "overweight" rating and a $19.00 price target for the company. Finally, Cowen reiterated a "hold" rating on shares of Domo in a research report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.14.

Domo Stock Down 0.1%

NASDAQ:DOMO opened at $14.12 on Friday. The business's 50-day moving average price is $14.60 and its 200 day moving average price is $10.72. The firm has a market cap of $568.19 million, a P/E ratio of -7.47 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 released its quarterly earnings results 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 company had revenue of $80.11 million during the quarter, compared to analyst estimates of $77.75 million. During the same quarter last year, the business earned ($0.33) EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts expect that Domo will post -2.1 EPS for the current year.

Insider Buying and Selling

In other Domo news, CEO Joshua G. James acquired 13,025 shares of the firm's stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $12.74 per share, for a total transaction of $165,938.50. Following the transaction, the chief executive officer owned 1,079,972 shares of the company's stock, valued at $13,758,843.28. The trade was a 1.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.24% of the company's stock.

Institutional Investors Weigh In On Domo

A number of institutional investors have recently bought and sold shares of DOMO. RPD Fund Management LLC acquired a new stake in shares of Domo during the 4th quarter valued at about $15,449,000. AIGH Capital Management LLC acquired a new stake in shares of Domo during the 1st quarter valued at about $5,832,000. Marshall Wace LLP lifted its holdings in shares of Domo by 2,255.4% during the 2nd quarter. Marshall Wace LLP now owns 771,737 shares of the company's stock valued at $10,781,000 after buying an additional 738,973 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Domo by 129.8% during the 2nd quarter. Bank of America Corp DE now owns 536,972 shares of the company's stock valued at $7,501,000 after buying an additional 303,279 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Domo by 9.4% during the 4th quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock valued at $23,278,000 after buying an additional 282,943 shares during the last quarter. 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.

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