Domo, Inc. (NASDAQ:DOMO) Given Average Rating of “Reduce” by Brokerages

Shares of Domo, Inc. (NASDAQ:DOMO) have been assigned a consensus rating of “Reduce” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.8333.

DOMO has been the subject of a number of research reports. TD Cowen cut Domo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $6.00 to $3.25 in a report on Tuesday, June 16th. Wall Street Zen cut Domo from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Weiss Ratings raised Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. DA Davidson reiterated a “neutral” rating and set a $3.50 price objective on shares of Domo in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald dropped their target price on Domo from $8.00 to $5.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 16th.

Domo Stock Down 0.6%

Shares of NASDAQ:DOMO opened at $3.46 on Tuesday. The firm has a market cap of $156.22 million, a price-to-earnings ratio of -2.60 and a beta of 1.79. Domo has a 12 month low of $1.84 and a 12 month high of $18.49. The company’s fifty day simple moving average is $3.32 and its 200 day simple moving average is $4.18.

Insider Buying and Selling at Domo

In other news, insider Rpd Fund Management Llc sold 39,034 shares of Domo stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $4.46, for a total value of $174,091.64. Following the sale, the insider directly owned 4,187,809 shares in the company, valued at $18,677,628.14. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua G. James sold 96,088 shares of Domo stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total transaction of $228,689.44. Following the completion of the sale, the chief executive officer owned 1,638,873 shares in the company, valued at $3,900,517.74. This trade represents a 5.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 466,662 shares of company stock valued at $1,483,488 over the last quarter. Insiders own 13.25% of the company’s stock.

Institutional Investors Weigh In On Domo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOMO. AQR Capital Management LLC boosted its stake in shares of Domo by 17.5% during the 1st quarter. AQR Capital Management LLC now owns 40,231 shares of the company’s stock worth $312,000 after buying an additional 5,985 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Domo during the first quarter worth about $237,000. Goldman Sachs Group Inc. raised its holdings in Domo by 22.5% during the first quarter. Goldman Sachs Group Inc. now owns 172,680 shares of the company’s stock worth $1,340,000 after acquiring an additional 31,740 shares in the last quarter. Creative Planning boosted its position in Domo by 23.2% during the second quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after purchasing an additional 2,889 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in 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 during the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.

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.