Domo (NASDAQ:DOMO) Shares Up 5.7% - Should You Buy?

Domo, Inc. (NASDAQ:DOMO - Get Free Report)'s stock price was up 5.7% on Thursday . The company traded as high as $14.47 and last traded at $14.47. Approximately 384,026 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 384,620 shares. The stock had previously closed at $13.68.

Analyst Ratings Changes

A number of research firms recently issued reports on DOMO. Cowen reaffirmed a "hold" rating on shares of Domo in a report on Thursday, May 22nd. Morgan Stanley dropped their target price on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. DA Davidson increased their price target on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. JMP Securities reissued a "market outperform" rating and issued a $16.00 price target on shares of Domo in a report on Thursday, May 22nd. Finally, Lake Street Capital reaffirmed a "hold" rating and set a $9.00 price objective (up previously from $8.50) on shares of Domo in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.67.

Domo Trading Up 2.4%

The firm's 50 day moving average price is $8.99 and its 200-day moving average price is $8.38. The company has a market cap of $584.32 million, a P/E ratio of -6.68 and a beta of 1.67.

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

Insider Activity at Domo

In other news, Director Daniel David Daniel III acquired 120,000 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $6.44 per share, for a total transaction of $772,800.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David R. Jolley sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the completion of the sale, the director now directly owns 255,743 shares of the company's stock, valued at $2,125,224.33. The trade was a 8.90% decrease in their position. The disclosure for this sale can be found here. 15.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Domo

A number of large investors have recently made changes to their positions in DOMO. Pilgrim Partners Asia Pte Ltd bought a new position in Domo during the fourth quarter worth about $47,000. Riggs Capital Management LLC bought a new position in shares of Domo during the 4th quarter valued at about $85,000. SG Americas Securities LLC lifted its holdings in shares of Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company's stock valued at $99,000 after purchasing an additional 2,247 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Domo in the 4th quarter valued at approximately $103,000. Finally, Wells Fargo & Company MN grew its position in shares of Domo by 29.2% in the 4th quarter. Wells Fargo & Company MN now owns 17,696 shares of the company's stock valued at $125,000 after purchasing an additional 4,000 shares during the period. 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.