Domo (NASDAQ:DOMO – Get Rating) released its quarterly earnings results on Thursday. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17), Yahoo Finance reports. The business had revenue of $79.46 million for the quarter, compared to analysts’ expectations of $78.87 million. During the same period in the previous year, the company earned ($0.99) EPS. Domo’s revenue for the quarter was up 6.7% compared to the same quarter last year. Domo updated its Q2 guidance to $(0.11)-$(0.07) EPS and its FY24 guidance to $(0.39)-$(0.27) EPS.
Domo Stock Performance
NASDAQ DOMO opened at $14.83 on Friday. Domo has a 12 month low of $11.35 and a 12 month high of $35.43. The company’s 50 day moving average is $14.40 and its two-hundred day moving average is $14.42.
Analyst Upgrades and Downgrades
A number of analysts have commented on DOMO shares. Lake Street Capital reduced their target price on shares of Domo from $23.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, March 7th. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Domo in a research note on Monday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Domo has a consensus rating of “Moderate Buy” and an average target price of $22.60.
Insiders Place Their Bets
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in DOMO. Advisor Group Holdings Inc. grew its holdings in Domo by 29.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,625 shares of the company’s stock valued at $203,000 after buying an additional 835 shares in the last quarter. JPMorgan Chase & Co. increased its position in Domo by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 121,542 shares of the company’s stock worth $6,146,000 after purchasing an additional 33,845 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Domo by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 417,040 shares of the company’s stock valued at $21,089,000 after purchasing an additional 6,149 shares in the last quarter. MetLife Investment Management LLC lifted its position in Domo by 54.4% during the first quarter. MetLife Investment Management LLC now owns 15,153 shares of the company’s stock valued at $766,000 after purchasing an additional 5,339 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Domo by 2.9% in the 1st quarter. BlackRock Inc. now owns 2,102,727 shares of the company’s stock worth $106,337,000 after buying an additional 60,090 shares in the last quarter. Institutional investors own 71.40% of the company’s stock.
Domo Company Profile
Domo, Inc designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. The company was founded by Joshua G. James in September 2010 and is headquartered in American Fork, UT.
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