Domo (NASDAQ:DOMO) Reaches New 52-Week High - Still a Buy?

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on DOMO shares. Morgan Stanley cut their price target on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald upped their price target on shares of Domo from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. DA Davidson upped their price target on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Lake Street Capital reissued a "hold" rating and issued a $9.00 price target (up from $8.50) on shares of Domo in a report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Domo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.67.

Domo Trading Up 2.4%

The company has a fifty day simple moving average of $8.99 and a 200-day simple moving average of $8.38. The stock has a market cap of $584.32 million, a price-to-earnings ratio of -6.68 and a beta of 1.67.

Domo (NASDAQ:DOMO - Get Free Report) last posted 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 company had revenue of $80.11 million for the quarter, compared to analyst estimates of $77.75 million. Domo's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) EPS. As a group, analysts anticipate that Domo, Inc. will post -2.1 earnings per share for the current year.

Insider Activity

In other Domo news, CEO Joshua G. James bought 77,300 shares of the company's stock in a transaction dated Friday, April 4th. The shares were bought at an average price 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 of the company's stock, valued at approximately $757,900. This trade represents a 196.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel David Daniel III bought 120,000 shares of the company's stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $6.44 per share, for a total transaction of $772,800.00. Following the acquisition, the director now directly owns 781,400 shares in the company, valued at $5,032,216. This trade represents a 18.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Domo

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Domo by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock valued at $36,164,000 after buying an additional 36,029 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Domo in the 4th quarter valued at approximately $173,000. Semanteon Capital Management LP bought a new stake in shares of Domo in the 4th quarter valued at approximately $217,000. JPMorgan Chase & Co. grew its stake in shares of Domo by 22.7% in the 4th quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company's stock valued at $4,553,000 after buying an additional 118,957 shares in the last quarter. Finally, Connective Capital Management LLC bought a new stake in shares of Domo in the 4th quarter valued at approximately $315,000. 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.