Domo (NASDAQ:DOMO) Rating Increased 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 report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on DOMO. Lake Street Capital reissued a "hold" rating and set a $9.00 price target (up previously from $8.50) on shares of Domo in a research report on Thursday, May 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 target price on shares of Domo in a report on Thursday, May 22nd. DA Davidson increased their price objective on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley cut their target price on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald boosted their price target on Domo from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.67.

Domo Stock Down 0.3%

Shares of NASDAQ DOMO traded down $0.05 during midday trading on Friday, hitting $12.84. The stock had a trading volume of 659,328 shares, compared to its average volume of 377,594. Domo has a 1 year low of $6.01 and a 1 year high of $13.45. The company has a market capitalization of $512.63 million, a PE ratio of -5.87 and a beta of 1.67. The stock has a 50 day simple moving average of $8.18 and a 200-day simple moving average of $8.12.

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

Insider Buying and Selling

In other news, Director Daniel David Daniel III bought 120,000 shares of Domo stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $6.44 per share, with a total value of $772,800.00. Following the completion of the transaction, the director now owns 781,400 shares in the company, valued at approximately $5,032,216. This trade represents a 18.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David R. Jolley sold 25,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the completion of the transaction, the director now directly owns 255,743 shares of the company's stock, valued at approximately $2,125,224.33. The trade was a 8.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew 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 purchasing an additional 41,194 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Domo by 3.7% during the first quarter. Woodline Partners LP now owns 617,610 shares of the company's stock worth $4,793,000 after purchasing an additional 21,926 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Domo by 22.5% during the first quarter. Goldman Sachs Group Inc. now owns 172,680 shares of the company's stock valued at $1,340,000 after purchasing an additional 31,740 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Domo in the first quarter worth $237,000. Finally, Panoramic Capital LLC bought a new stake in Domo in the 1st quarter valued at about $776,000. 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.