Domo (NASDAQ:DOMO) Raised to "Buy" at Wall Street Zen

Domo (NASDAQ:DOMO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on DOMO. Cowen restated a "hold" rating on shares of Domo in a research report on Thursday, May 22nd. Cantor Fitzgerald raised their price objective on Domo from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. JMP Securities restated a "market outperform" rating and set a $16.00 price objective on shares of Domo in a research report on Thursday, May 22nd. DA Davidson raised their price objective on Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley cut their price objective 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. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.67.

Domo Stock Down 1.3%

DOMO stock traded down $0.17 during trading on Friday, reaching $12.62. The company's stock had a trading volume of 907,806 shares, compared to its average volume of 378,531. Domo has a 1 year low of $6.01 and a 1 year high of $13.28. The company has a market capitalization of $504.04 million, a P/E ratio of -5.76 and a beta of 1.67. The company's fifty day moving average is $8.34 and its 200-day moving average is $8.18.

Domo (NASDAQ:DOMO - Get Free Report) last issued 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 business had revenue of $80.11 million during the quarter, compared to analysts' expectations of $77.75 million. During the same quarter in the previous year, the company posted ($0.33) EPS. The company's quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that Domo will post -2.1 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Daniel David Daniel III acquired 120,000 shares of the firm's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $6.44 per share, with a total value of $772,800.00. Following the completion of the purchase, the director now directly owns 781,400 shares in the company, valued at approximately $5,032,216. This trade represents a 18.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua G. James acquired 77,300 shares of the firm's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $6.50 per share, with a total value of $502,450.00. Following the purchase, the chief executive officer now owns 116,600 shares of the company's stock, valued at $757,900. The trade was a 196.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.24% of the stock is currently owned by company insiders.

Institutional Trading of Domo

Several institutional investors have recently added to or reduced their stakes in DOMO. Vanguard Group Inc. raised its stake 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 valued at $36,164,000 after acquiring an additional 36,029 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Domo by 9.4% in the fourth quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock worth $23,278,000 after buying an additional 282,943 shares in the last quarter. RPD Fund Management LLC bought a new position in Domo in the fourth quarter worth approximately $15,449,000. Acadian Asset Management LLC raised its stake in Domo by 3.0% in the first quarter. Acadian Asset Management LLC now owns 1,415,884 shares of the company's stock worth $10,987,000 after buying an additional 41,194 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Domo by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 770,810 shares of the company's stock worth $5,458,000 after buying an additional 11,457 shares in the last quarter. Institutional investors own 76.64% of the company's stock.

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.