Domo (NASDAQ:DOMO) Sets New 12-Month High - Here's What Happened

Domo, Inc. (NASDAQ:DOMO - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.53 and last traded at $13.21, with a volume of 1381642 shares trading hands. The stock had previously closed at $12.70.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DOMO shares. Lake Street Capital reissued a "hold" rating and issued a $9.00 price target (up previously from $8.50) on shares of Domo in a research note on Thursday, May 22nd. Cantor Fitzgerald raised their target price on shares of Domo from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Domo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of Domo in a research note on Thursday, May 22nd. Finally, DA Davidson upped their price target on Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $10.67.

Domo Price Performance

The business has a 50 day simple moving average of $8.73 and a 200 day simple moving average of $8.30. The stock has a market cap of $570.74 million, a PE ratio of -6.53 and a beta of 1.67.

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

Insider Activity at Domo

In other Domo news, Director Daniel David Daniel III acquired 120,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $6.44 per share, with a total value of $772,800.00. Following the transaction, the director now owns 781,400 shares of the company's stock, valued at approximately $5,032,216. This trade represents a 18.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joshua G. James bought 77,300 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $502,450.00. Following the acquisition, the chief executive officer now directly owns 116,600 shares in the company, valued at approximately $757,900. The trade was a 196.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. RPD Fund Management LLC bought a new position in Domo during the fourth quarter worth $15,449,000. AIGH Capital Management LLC acquired a new stake in Domo in the 1st quarter worth $5,832,000. Ameriprise Financial Inc. increased 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 worth $23,278,000 after purchasing an additional 282,943 shares during the period. CenterBook Partners LP acquired a new position in shares of Domo during the fourth quarter valued at about $1,586,000. Finally, Nuveen LLC bought a new stake in shares of Domo in the first quarter valued at about $1,248,000. 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.