Domo (NASDAQ:DOMO) Reaches New 12-Month High - Still a Buy?

Key Points

• Domo's stock reached a new 52-week high of $16.81 on Wednesday, closing at $16.61 with a trading volume of 88,198 shares.
• Analysts have assigned Domo a Moderate Buy rating, with target prices ranging from $8.00 to $19.00.
• CEO Joshua G. James acquired 13,025 shares of Domo stock at an average price of $12.74, increasing his ownership by 1.22%.

Domo, Inc. (NASDAQ:DOMO - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.81 and last traded at $16.61, with a volume of 88198 shares changing hands. The stock had previously closed at $16.06.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DOMO shares. Cowen reaffirmed a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Wall Street Zen raised Domo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Stephens began coverage on Domo in a research note on Friday, July 18th. They set an "overweight" rating and a $19.00 price target on the stock. JMP Securities increased their target price on Domo from $16.00 to $20.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 25th. Finally, Citigroup reissued an "outperform" rating on shares of Domo in a research note on Wednesday, June 25th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Domo Stock Performance

The company has a market cap of $648.27 million, a price-to-earnings ratio of -8.52 and a beta of 1.87. The business has a fifty day moving average price of $14.16 and a 200 day moving average price of $10.20.

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

Insider Activity at Domo

In other news, CEO Joshua G. James purchased 13,025 shares of the business's stock in a transaction on Friday, June 20th. The shares were acquired at an average price of $12.74 per share, for a total transaction of $165,938.50. Following the completion of the acquisition, the chief executive officer owned 1,079,972 shares in the company, valued at approximately $13,758,843.28. The trade was a 1.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOMO. Raymond James Financial Inc. bought a new position in Domo in the fourth quarter worth approximately $173,000. Vanguard Group Inc. boosted its holdings in Domo by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock worth $36,164,000 after acquiring an additional 36,029 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Domo by 22.7% in the fourth 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Domo in the fourth quarter worth approximately $980,000. Finally, Geode Capital Management LLC raised its stake in shares of Domo by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 770,810 shares of the company's stock worth $5,458,000 after purchasing an additional 11,457 shares during the last quarter. Institutional investors 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.