Domo (NASDAQ:DOMO) Hits New 52-Week High - Time to Buy?

Domo, Inc. (NASDAQ:DOMO - Get Free Report) reached a new 52-week high during trading on Saturday . The company traded as high as $16.41 and last traded at $16.29, with a volume of 1362407 shares changing hands. The stock had previously closed at $14.36.

Wall Street Analyst Weigh In

DOMO has been the topic of several research reports. JMP Securities increased their price target on shares of Domo from $16.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 25th. Morgan Stanley reduced their price target on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Stephens assumed coverage on shares of Domo in a research report on Friday. They set an "overweight" rating and a $19.00 price target on the stock. DA Davidson raised their target price on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Domo in a report on Wednesday, June 25th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Domo Stock Performance

The business's 50-day moving average is $12.78 and its two-hundred day moving average is $9.56. The stock has a market capitalization of $655.51 million, a PE ratio of -8.62 and a beta of 1.84.

Domo (NASDAQ:DOMO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.10. The company had revenue of $80.11 million for the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the company earned ($0.33) earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts forecast that Domo, Inc. will post -2.1 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joshua G. James acquired 13,025 shares of the stock in a transaction on Friday, June 20th. The stock was bought at an average price of $12.74 per share, with a total value of $165,938.50. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 15.24% of the company's stock.

Hedge Funds Weigh In On Domo

A number of hedge funds have recently added to or reduced their stakes in DOMO. MetLife Investment Management LLC raised its stake in shares of Domo by 9.5% during the first quarter. MetLife Investment Management LLC now owns 19,446 shares of the company's stock valued at $151,000 after purchasing an additional 1,681 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Domo by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company's stock worth $622,000 after acquiring an additional 1,826 shares during the period. Rhumbline Advisers grew its holdings in Domo by 5.0% during 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 period. Diversify Wealth Management LLC grew its holdings in Domo by 13.2% during the first quarter. Diversify Wealth Management LLC now owns 23,197 shares of the company's stock worth $176,000 after acquiring an additional 2,705 shares during the period. Finally, Barclays PLC grew its holdings in Domo by 3.7% during the fourth quarter. Barclays PLC now owns 82,573 shares of the company's stock worth $584,000 after acquiring an additional 2,962 shares during the period. Institutional investors and hedge funds own 76.64% of the company's stock.

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.