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

Shares of Domo, Inc. (NASDAQ:DOMO - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.00 and last traded at $12.88, with a volume of 1594457 shares. The stock had previously closed at $11.35.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Morgan Stanley dropped their price objective on Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 target price on shares of Domo in a report on Thursday, May 22nd. Wall Street Zen raised shares of Domo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Lake Street Capital reaffirmed a "hold" rating and issued a $9.00 target price (up from $8.50) on shares of Domo in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald increased their target price on shares of Domo from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.67.

Domo Trading Down 0.3%

The stock has a market capitalization of $502.45 million, a PE ratio of -5.74 and a beta of 1.67. The company's 50 day simple moving average is $8.42 and its 200 day simple moving average is $8.19.

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

Insiders Place Their Bets

In related news, CEO Joshua G. James purchased 77,300 shares of the firm's stock in a transaction on 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 in the company, valued at $757,900. This trade represents a 196.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel David Daniel III purchased 120,000 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $6.44 per share, for a total transaction of $772,800.00. Following the acquisition, the director now owns 781,400 shares in the company, valued at $5,032,216. The trade was 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

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 36,029 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Domo during the 4th quarter worth $173,000. Semanteon Capital Management LP purchased a new stake in Domo during the 4th quarter worth $217,000. JPMorgan Chase & Co. boosted its position in Domo by 22.7% during the 4th quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company's stock worth $4,553,000 after purchasing an additional 118,957 shares during the period. Finally, Barclays PLC boosted its position in Domo by 3.7% during the 4th quarter. Barclays PLC now owns 82,573 shares of the company's stock worth $584,000 after purchasing an additional 2,962 shares during the period. Institutional investors and hedge funds own 76.64% of the company's stock.

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.