Domo (NASDAQ:DOMO) Price Target Cut to $16.00 by Analysts at JMP Securities

Domo (NASDAQ:DOMO) had its price target decreased by JMP Securities from $23.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other brokerages have also recently weighed in on DOMO. DA Davidson reissued a neutral rating and set a $10.00 price objective on shares of Domo in a research note on Thursday, March 28th. TD Cowen dropped their price objective on Domo from $11.50 to $10.00 and set a hold rating on the stock in a research note on Tuesday. Morgan Stanley lowered their target price on Domo from $13.00 to $7.00 and set an equal weight rating for the company in a report on Friday. Finally, Lake Street Capital lowered Domo from a buy rating to a hold rating and reduced their target price for the stock from $15.00 to $8.00 in a research note on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Domo presently has a consensus rating of Hold and a consensus price target of $10.20.

Domo Trading Down 2.2 %

NASDAQ:DOMO traded down $0.16 during trading hours on Friday, reaching $6.97. 1,729,397 shares of the company traded hands, compared to its average volume of 348,390. The stock has a market capitalization of $265.07 million, a P/E ratio of -3.32 and a beta of 2.35. The business’s 50-day moving average price is $8.09 and its two-hundred day moving average price is $9.42. Domo has a 1 year low of $6.11 and a 1 year high of $18.19.

Domo (NASDAQ:DOMO) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.05). The firm had revenue of $80.18 million during the quarter, compared to analyst estimates of $79.46 million. As a group, equities analysts anticipate that Domo will post -2 EPS for the current year.

Insider Activity at Domo

In other Domo news, CFO David R. Jolley sold 23,338 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $9.33, for a total transaction of $217,743.54. Following the completion of the sale, the chief financial officer now directly owns 227,243 shares in the company, valued at approximately $2,120,177.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Domo news, CFO David R. Jolley sold 23,338 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $9.33, for a total transaction of $217,743.54. Following the transaction, the chief financial officer now directly owns 227,243 shares in the company, valued at $2,120,177.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David R. Jolley sold 12,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $8.50, for a total value of $102,000.00. Following the transaction, the chief financial officer now owns 215,543 shares in the company, valued at $1,832,115.50. The disclosure for this sale can be found here. Insiders sold a total of 206,056 shares of company stock worth $1,911,367 in the last 90 days. Corporate insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of Domo by 161.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $27,000 after purchasing an additional 1,622 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Domo in the 1st quarter worth approximately $43,000. EntryPoint Capital LLC acquired a new stake in shares of Domo in the 1st quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Domo by 58.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after purchasing an additional 2,212 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Domo in the 4th quarter worth approximately $107,000. 76.64% of the stock is owned by hedge funds and other institutional investors.

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.