Domo (NASDAQ:DOMO) Hits New 52-Week High - Should You Buy?

Key Points

• Domo, Inc. shares reached a new 52-week high of $16.94 amid significant trading, closing at $16.69 with over 800,000 shares traded.
• Analysts have recently upgraded Domo's stock ratings, with a consensus of "Moderate Buy" and a target price of $13.14, reflecting increased confidence from several research reports.
• CEO Joshua G. James purchased 13,025 shares at $12.74 each, increasing his ownership stake and demonstrating insider confidence in the company's prospects.

Domo, Inc. (NASDAQ:DOMO - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.94 and last traded at $16.69, with a volume of 811988 shares trading hands. The stock had previously closed at $16.11.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DOMO. DA Davidson increased their price objective on shares of Domo from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Citigroup reiterated an "outperform" rating on shares of Domo in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of Domo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Stephens began coverage on shares of Domo in a research note on Friday, July 18th. They issued an "overweight" rating and a $19.00 price objective on the stock. Finally, JMP Securities increased their price objective on shares of Domo from $16.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 25th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $13.14.

Domo Price Performance

The stock's fifty day moving average price is $14.55 and its 200 day moving average price is $10.49. The stock has a market capitalization of $642.63 million, a P/E ratio of -8.45 and a beta of 1.87.

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

Insider Buying and Selling

In related news, CEO Joshua G. James purchased 13,025 shares of the firm's stock in a transaction on Friday, June 20th. The stock was bought at an average cost of $12.74 per share, with a total value of $165,938.50. Following the completion of the acquisition, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 15.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DOMO. Nisa Investment Advisors LLC raised its stake in shares of Domo by 53.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,838 shares of the company's stock worth $26,000 after buying an additional 642 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Domo during the 2nd quarter worth approximately $49,000. AlphaQuest LLC raised its stake in shares of Domo by 707.3% during the 2nd quarter. AlphaQuest LLC now owns 6,604 shares of the company's stock worth $92,000 after buying an additional 5,786 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Domo by 26.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,181 shares of the company's stock worth $142,000 after buying an additional 2,109 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Domo during the 2nd quarter worth approximately $197,000. 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.