Domo's (DOMO) Market Underperform Rating Reiterated at Citizens Jmp

Key Points

• Citizens Jmp reiterated its “market underperform” rating on Domo and set a $2.25 price target, implying 42.46% downside from the stock’s $3.91 opening price.
• Analyst sentiment remains negative overall, with a consensus rating of “Reduce” and an average price target of $3.95; ratings include one Buy, four Holds, and four Sells.
• Domo shares have traded between $1.84 and $18.49 over the past year, while insiders sold 427,351 shares worth approximately $1.34 million during the last quarter.

Domo (NASDAQ:DOMO - Get Free Report)'s stock had its "market underperform" rating reissued by Citizens Jmp in a research report issued on Monday,Benzinga reports. They currently have a $2.25 price target on the stock. Citizens Jmp's price objective points to a potential downside of 42.46% from the stock's current price.

Several other analysts also recently commented on the stock. Lake Street Capital upgraded shares of Domo from a "hold" rating to a "buy" rating and lowered their target price for the company from $7.00 to $5.00 in a report on Thursday, July 23rd. Citigroup reaffirmed a "market underperform" rating on shares of Domo in a research report on Monday. DA Davidson reissued a "neutral" rating and issued a $3.50 price objective on shares of Domo in a research report on Tuesday, June 16th. Stephens cut Domo from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $5.00 to $4.00 in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded shares of Domo from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $3.95.

Domo Price Performance

Shares of NASDAQ:DOMO opened at $3.91 on Monday. The stock has a market cap of $176.54 million, a price-to-earnings ratio of -2.94 and a beta of 1.76. Domo has a 12-month low of $1.84 and a 12-month high of $18.49. The business's 50 day moving average is $3.33 and its 200 day moving average is $3.72.

Insider Transactions at Domo

In other news, CEO Joshua G. James sold 96,088 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $228,689.44. Following the completion of the transaction, the chief executive officer owned 1,638,873 shares in the company, valued at approximately $3,900,517.74. This represents a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rpd Fund Management Llc sold 39,034 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $4.46, for a total value of $174,091.64. Following the completion of the sale, the insider owned 4,187,809 shares in the company, valued at $18,677,628.14. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 427,351 shares of company stock worth $1,343,466 over the last quarter. 13.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Domo

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Domo during the 2nd quarter valued at $42,000. Rangeley Capital LLC bought a new position in Domo in the 1st quarter valued at $80,000. Andina Capital Management LLC purchased a new position in shares of Domo during the 4th quarter valued at $84,000. Oxford Asset Management LLP bought a new position in shares of Domo in the fourth quarter worth $88,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Domo in the fourth 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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