Domo (NASDAQ:DOMO) Trading Up 9.2% on Analyst Upgrade

Domo, Inc. (NASDAQ:DOMO - Get Free Report) traded up 9.2% during trading on Thursday after JMP Securities raised their price target on the stock from $16.00 to $20.00. JMP Securities currently has a market outperform rating on the stock. Domo traded as high as $13.68 and last traded at $13.86. 530,210 shares changed hands during trading, an increase of 33% from the average session volume of 399,376 shares. The stock had previously closed at $12.69.

DOMO has been the subject of several other reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Domo in a research report on Wednesday. DA Davidson upped their price target on Domo from $8.00 to $9.00 and gave the stock a "neutral" rating in a research 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. Cowen restated a "hold" rating on shares of Domo in a report on Thursday, May 22nd. Finally, Morgan Stanley lowered their price target on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $12.17.

Insider Buying and Selling at Domo

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 purchased at an average cost of $12.74 per share, for a total transaction of $165,938.50. Following the completion of the purchase, the chief executive officer now directly owns 1,079,972 shares in the company, valued at $13,758,843.28. This trade represents a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, with a total value of $772,800.00. Following the completion of the purchase, the director now owns 781,400 shares of the company's stock, valued at approximately $5,032,216. This represents a 18.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 210,325 shares of company stock worth $1,441,189 over the last ninety days. 15.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Domo by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock worth $36,164,000 after purchasing an additional 36,029 shares during the period. Ameriprise Financial Inc. boosted 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 buying an additional 282,943 shares during the period. RPD Fund Management LLC acquired a new position in Domo in the 4th quarter valued at about $15,449,000. Acadian Asset Management LLC grew its stake in Domo by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,415,884 shares of the company's stock valued at $10,987,000 after buying an additional 41,194 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Domo by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 770,810 shares of the company's stock valued at $5,458,000 after acquiring an additional 11,457 shares during the period. 76.64% of the stock is currently owned by institutional investors.

Domo Trading Up 0.1%

The company's 50-day simple moving average is $10.68 and its 200-day simple moving average is $8.82.

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

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.