Domo (NASDAQ:DOMO) Trading Down 5% - Here's Why

Key Points

• Domo's share price fell by 5% on Monday, trading as low as $15.42, with significantly lower trading volume at 92,214 shares compared to an average of 513,775 shares.
• Analyst ratings for Domo show a consensus of "Moderate Buy", with target prices ranging from $9.00 to $20.00 as brokerages have recently upgraded their positions on the stock.
• CEO Joshua G. James purchased 13,025 shares of Domo's stock at an average cost of $12.74 per share, increasing his ownership stake in the company.

Domo, Inc. (NASDAQ:DOMO - Get Free Report)'s share price fell 5% on Monday . The company traded as low as $15.42 and last traded at $15.17. 92,214 shares were traded during trading, a decline of 82% from the average session volume of 513,775 shares. The stock had previously closed at $15.97.

Analyst Ratings Changes

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

Domo Trading Down 10.1%

The company has a market cap of $577.44 million, a P/E ratio of -7.59 and a beta of 1.87. The company's fifty day moving average is $14.55 and its 200 day moving average is $10.53.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly 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 the consensus estimate of $77.75 million. Domo's revenue was up .0% on a year-over-year basis. During the same period last year, the business earned ($0.33) EPS. Analysts anticipate that Domo, Inc. will post -2.1 EPS for the current year.

Insider Activity at Domo

In related news, CEO Joshua G. James bought 13,025 shares of the company's stock in a transaction dated Friday, June 20th. The stock was purchased at an average cost of $12.74 per share, with a total value of $165,938.50. Following the transaction, the chief executive officer owned 1,079,972 shares in the company, valued at approximately $13,758,843.28. This trade represents a 1.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.24% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in Domo by 53.7% in the second 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 last quarter. MetLife Investment Management LLC grew its position in Domo by 9.5% during the first quarter. MetLife Investment Management LLC now owns 19,446 shares of the company's stock valued at $151,000 after buying an additional 1,681 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Domo by 26.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,181 shares of the company's stock valued at $142,000 after buying an additional 2,109 shares during the period. Rhumbline Advisers boosted its position in shares of Domo by 5.0% in the first quarter. Rhumbline Advisers now owns 49,557 shares of the company's stock worth $385,000 after purchasing an additional 2,369 shares during the period. Finally, Diversify Wealth Management LLC boosted its position in shares of Domo by 13.2% in the first quarter. Diversify Wealth Management LLC now owns 23,197 shares of the company's stock worth $176,000 after purchasing an additional 2,705 shares during the period. 76.64% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.