Domo (NASDAQ:DOMO) Sets New 1-Year High - Here's Why

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOMO. 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 research report on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $17.00 price target on shares of Domo in a report on Wednesday, June 25th. JMP Securities raised their price target 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. Citigroup reiterated an "outperform" rating on shares of Domo in a report on Wednesday, June 25th. Finally, Lake Street Capital reiterated 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. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Domo has an average rating of "Moderate Buy" and an average target price of $13.14.

Domo Trading Down 0.4%

The stock's fifty day moving average is $13.06 and its two-hundred day moving average is $9.69. The firm has a market cap of $633.78 million, a P/E ratio of -8.33 and a beta of 1.84.

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

Insider Buying and Selling

In other Domo news, CEO Joshua G. James purchased 13,025 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $12.74 per share, for a total transaction of $165,938.50. Following the purchase, the chief executive officer directly owned 1,079,972 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.24% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DOMO. RPD Fund Management LLC purchased a new stake in Domo during the fourth quarter worth approximately $15,449,000. AIGH Capital Management LLC purchased a new stake in Domo during the first quarter worth approximately $5,832,000. Ameriprise Financial Inc. lifted its stake in Domo by 9.4% during the fourth quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock worth $23,278,000 after purchasing an additional 282,943 shares during the last quarter. CenterBook Partners LP acquired a new position in Domo during the fourth quarter worth approximately $1,586,000. Finally, Nuveen LLC acquired a new position in Domo during the first quarter worth approximately $1,248,000. 76.64% of the stock is owned by hedge funds and other institutional investors.

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.