Domo (NASDAQ:DOMO) Upgraded by Lake Street Capital to Buy Rating

Key Points

• Lake Street Capital upgraded Domo from “hold” to “buy” and set a $5 price target, implying about 58.7% upside from the current share price.
• Analyst sentiment on Domo remains mixed overall, with recent downgrades from TD Cowen and Wall Street Zen offset by Lake Street’s upgrade. The stock now has a consensus Hold rating and an average price target of $3.83.
• Domo shares were trading around $3.15 with a market cap of roughly $142 million, while insiders have been active sellers recently, including CFO Tod Crane and EVP Daren Thayne.

Domo (NASDAQ:DOMO - Get Free Report) was upgraded by analysts at Lake Street Capital from a "hold" rating to a "buy" rating in a note issued to investors on Thursday. The brokerage currently has a $5.00 price objective on the stock, down from their prior price objective of $7.00. Lake Street Capital's price objective indicates a potential upside of 58.73% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. TD Cowen lowered shares of Domo from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $6.00 to $3.25 in a research report on Tuesday, June 16th. Wall Street Zen cut shares of Domo from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Cantor Fitzgerald decreased their price target on shares of Domo from $8.00 to $5.00 and set an "overweight" rating for the company in a research report on Tuesday, June 16th. UBS Group reiterated a "neutral" rating on shares of Domo in a report on Tuesday, June 16th. Finally, DA Davidson restated a "neutral" rating and set a $3.50 price objective on shares of Domo in a research note on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.83.

Domo Stock Performance

Shares of NASDAQ:DOMO opened at $3.15 on Thursday. The stock has a 50-day simple moving average of $3.31 and a 200-day simple moving average of $4.11. The stock has a market capitalization of $142.22 million, a P/E ratio of -2.37 and a beta of 1.79. Domo has a 1 year low of $1.84 and a 1 year high of $18.49.

Insider Activity

In other news, CFO Tod Crane sold 68,483 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $162,989.54. Following the completion of the sale, the chief financial officer directly owned 276,809 shares in the company, valued at $658,805.42. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daren Thayne sold 52,365 shares of Domo stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the sale, the executive vice president directly owned 498,051 shares in the company, valued at approximately $1,185,361.38. The trade was a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 466,662 shares of company stock worth $1,483,488. Corporate insiders own 13.25% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in shares of Domo in the second quarter worth $42,000. Rangeley Capital LLC bought a new position in Domo during the 1st quarter valued at $80,000. Andina Capital Management LLC bought a new position in Domo during the 4th quarter valued at $84,000. Oxford Asset Management LLP acquired a new position in Domo during the 4th quarter worth $88,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Domo during the 4th quarter worth $88,000. Hedge funds and other institutional investors own 76.64% of the company's stock.

About Domo

Domo, Inc NASDAQ: DOMO is a cloud-based software company that specializes in business intelligence and data analytics. The company's flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.

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