Domo’s (DOMO) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Domo (NASDAQ:DOMO) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

Several other brokerages have also recently issued reports on DOMO. Morgan Stanley dropped their target price on Domo from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Lake Street Capital dropped their price objective on Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research report on Friday, March 7th. 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. DA Davidson upgraded shares of Domo to a “hold” rating in a report on Monday, March 10th. Finally, Cowen restated a “hold” rating on shares of Domo in a report on Friday, March 7th. 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, Domo has an average rating of “Hold” and a consensus target price of $10.67.

Domo Price Performance

Shares of Domo stock opened at $11.35 on Thursday. Domo has a 1 year low of $6.01 and a 1 year high of $11.68. The firm’s 50-day moving average is $8.03 and its two-hundred day moving average is $8.08. The stock has a market cap of $453.32 million, a price-to-earnings ratio of -5.18 and a beta of 1.67.

Domo (NASDAQ:DOMO) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.10. The business had revenue of $80.11 million during the quarter, compared to the consensus estimate of $77.75 million. During the same quarter in the prior year, the firm posted ($0.33) EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts expect that Domo will post -2.1 earnings per share for the current year.

Insider Activity at Domo

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 worth $36,164,000 after buying an additional 36,029 shares during the period. Raymond James Financial Inc. acquired a new stake in Domo during the 4th quarter worth about $173,000. Semanteon Capital Management LP acquired a new stake in Domo during the 4th quarter worth about $217,000. JPMorgan Chase & Co. lifted its position in Domo by 22.7% during the 4th quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company’s stock worth $4,553,000 after acquiring an additional 118,957 shares during the period. Finally, Barclays PLC increased its holdings in shares of Domo by 3.7% in the fourth quarter. Barclays PLC now owns 82,573 shares of the company’s stock valued at $584,000 after purchasing an additional 2,962 shares during the period. Institutional investors and hedge funds own 76.64% of the company’s stock.

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.