Domo (NASDAQ:DOMO) Issues Earnings Results

Key Points

• Domo reported a quarterly loss of $0.21 per share and revenue of $76.78 million, below the analyst consensus estimate of $78.06 million.
• Analyst sentiment remains cautious: Domo has an average “Reduce” rating, with one Buy, four Hold, and four Sell ratings and a consensus price target of $3.95.
• Domo insiders sold 216,936 shares worth approximately $516,000 over the past three months, while institutional investors own 76.64% of the company.

Domo (NASDAQ:DOMO - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.21) EPS for the quarter, reports. The company had revenue of $76.78 million for the quarter, compared to the consensus estimate of $78.06 million.

Domo Price Performance

DOMO stock opened at $3.88 on Friday. Domo has a 1 year low of $1.84 and a 1 year high of $18.49. The company has a market cap of $175.19 million, a P/E ratio of -2.92 and a beta of 1.76. The firm has a 50-day moving average of $3.66 and a 200 day moving average of $3.57.

Analyst Upgrades and Downgrades

DOMO has been the topic of a number of analyst reports. TD Cowen lowered shares of Domo from a "buy" rating to a "hold" rating and decreased their target price for the stock from $6.00 to $3.25 in a report on Tuesday, June 16th. Citizens Jmp reissued a "market underperform" rating and issued a $2.25 target price on shares of Domo in a research note on Monday, August 17th. Cantor Fitzgerald lowered Domo from an "overweight" rating to a "hold" rating and set a $4.84 price target on the stock. in a research report on Thursday, July 23rd. Citigroup reaffirmed a "market underperform" rating on shares of Domo in a research note on Monday, August 17th. Finally, UBS Group reaffirmed a "market underperform" rating on shares of Domo in a research note on Monday, August 17th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $3.95.

Insider Buying and Selling at Domo

In related news, CFO Tod Crane sold 68,483 shares of Domo stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $162,989.54. Following the sale, the chief financial officer directly owned 276,809 shares in the company, valued at $658,805.42. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daren Thayne sold 52,365 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the completion of 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 216,936 shares of company stock valued at $516,308. 13.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently modified their holdings of the business. Brevan Howard Capital Management LP increased its stake in shares of Domo by 3.9% in the 3rd quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company's stock worth $804,000 after acquiring an additional 1,924 shares in the last quarter. Verition Fund Management LLC boosted its stake in Domo by 8.1% during the fourth quarter. Verition Fund Management LLC now owns 35,876 shares of the company's stock worth $302,000 after acquiring an additional 2,679 shares in the last quarter. Creative Planning grew its holdings in Domo by 23.2% in the second quarter. Creative Planning now owns 15,362 shares of the company's stock worth $215,000 after purchasing an additional 2,889 shares during the period. Headlands Technologies LLC purchased a new stake in Domo in the second quarter worth about $42,000. Finally, Rhumbline Advisers increased its stake in shares of Domo by 9.6% during the second quarter. Rhumbline Advisers now owns 54,308 shares of the company's stock valued at $759,000 after purchasing an additional 4,751 shares in the last quarter. 76.64% of the stock is owned by hedge funds and other institutional investors.

Domo Company Profile

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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