Domo (NASDAQ:DOMO) Shares Up 7.6% - Still a Buy?

Shares of Domo, Inc. (NASDAQ:DOMO - Get Free Report) rose 7.6% during trading on Friday . The stock traded as high as $15.31 and last traded at $15.45. Approximately 563,731 shares changed hands during trading, an increase of 35% from the average daily volume of 417,814 shares. The stock had previously closed at $14.36.

Analysts Set New Price Targets

A number of research analysts recently commented on DOMO shares. Citigroup reaffirmed an "outperform" rating on shares of Domo in a research report on Wednesday, June 25th. Wall Street Zen upgraded Domo from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Morgan Stanley cut their target price on Domo from $9.00 to $8.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Cowen reiterated a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Finally, JMP Securities lifted their target price on Domo from $16.00 to $20.00 and gave the company a "market outperform" rating in a report on Wednesday, June 25th. 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.14.

Domo Stock Down 0.4%

The stock has a market capitalization of $633.70 million, a price-to-earnings ratio of -8.33 and a beta of 1.84. The company's 50-day simple moving average is $12.78 and its 200 day simple moving average is $9.58.

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

Insider Buying and Selling at Domo

In related news, CEO Joshua G. James purchased 13,025 shares of Domo stock in a transaction that occurred on Friday, June 20th. The shares were 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 of the company's stock, valued at approximately $13,758,843.28. The trade was a 1.22% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 15.24% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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. grew its holdings in shares of Domo by 9.4% in the fourth quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock valued at $23,278,000 after purchasing an additional 282,943 shares in the last quarter. RPD Fund Management LLC acquired a new position in Domo in the 4th quarter valued at $15,449,000. Acadian Asset Management LLC lifted its holdings in shares of Domo by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,415,884 shares of the company's stock worth $10,987,000 after acquiring an additional 41,194 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Domo by 1.5% during 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. 76.64% of the stock is owned by institutional investors and hedge funds.

About Domo

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.