Domo (NASDAQ:DOMO) Hits New 12-Month High - Here's Why

Domo, Inc. (NASDAQ:DOMO - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $15.09 and last traded at $14.79, with a volume of 144039 shares changing hands. The stock had previously closed at $14.54.

Analyst Ratings Changes

A number of analysts have recently weighed in on DOMO shares. Citigroup restated an "outperform" rating on shares of Domo in a report on Wednesday, June 25th. Cowen reiterated a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $17.00 price target on shares of Domo in a report on Wednesday, June 25th. Morgan Stanley dropped their target price on Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen raised Domo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Domo currently has a consensus rating of "Hold" and an average target price of $12.17.

Domo Stock Up 2.0%

The firm's fifty day moving average is $11.42 and its 200-day moving average is $9.04. The stock has a market capitalization of $596.96 million, a PE ratio of -7.85 and a beta of 1.84.

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

Insider Activity

In other news, CEO Joshua G. James purchased 13,025 shares of the company's stock in a transaction 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 completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 15.24% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Rockwood Wealth Management LLC boosted its stake in Domo by 55.7% during the 1st quarter. Rockwood Wealth Management LLC now owns 20,984 shares of the company's stock valued at $163,000 after purchasing an additional 7,508 shares during the period. Vanguard Group Inc. increased its position in Domo by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock worth $36,164,000 after buying an additional 36,029 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Domo in the fourth quarter valued at approximately $173,000. Squarepoint Ops LLC bought a new stake in Domo during the 4th quarter valued at approximately $127,000. Finally, Connective Capital Management LLC bought a new stake in Domo in the 4th quarter valued at $315,000. 76.64% of the stock is 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.