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 report released on Monday, Benzinga reports. JMP Securities currently has a $16.00 price target on the stock.

A number of other research firms also recently issued reports on DOMO. DA Davidson restated a neutral rating and issued a $10.00 target price on shares of Domo in a report on Thursday, March 28th. TD Cowen dropped their price objective on shares of Domo from $11.50 to $10.00 and set a hold rating on the stock in a research note on Tuesday, May 21st. Morgan Stanley dropped their price target on shares of Domo from $13.00 to $7.00 and set an equal weight rating for the company in a research note on Friday, May 24th. Finally, Lake Street Capital cut shares of Domo from a buy rating to a hold rating and dropped their target price for the stock from $15.00 to $8.00 in a report on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Domo has an average rating of Hold and a consensus price target of $10.20.

Domo Stock Performance

Shares of NASDAQ:DOMO opened at $7.63 on Monday. Domo has a one year low of $6.11 and a one year high of $18.19. The stock has a market capitalization of $291.24 million, a price-to-earnings ratio of -3.63 and a beta of 2.45. The company has a 50-day simple moving average of $7.16 and a 200-day simple moving average of $8.96.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Thursday, May 23rd. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.07). The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $79.57 million. As a group, research analysts forecast that Domo will post -2.4 EPS for the current fiscal year.

Insider Buying and Selling at Domo

In other Domo news, EVP Daren Thayne sold 7,095 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $6.85, for a total transaction of $48,600.75. Following the completion of the sale, the executive vice president now owns 406,663 shares of the company’s stock, valued at $2,785,641.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Domo news, EVP Daren Thayne sold 7,095 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $6.85, for a total value of $48,600.75. Following the completion of the sale, the executive vice president now directly owns 406,663 shares of the company’s stock, valued at approximately $2,785,641.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel David Daniel III acquired 150,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $6.87 per share, for a total transaction of $1,030,500.00. Following the acquisition, the director now directly owns 561,400 shares in the company, valued at approximately $3,856,818. The disclosure for this purchase can be found here. Corporate insiders own 14.04% of the company’s stock.

Institutional Trading of Domo

Several hedge funds have recently modified their holdings of DOMO. Hsbc Holdings PLC acquired a new position in shares of Domo during the third quarter worth approximately $181,000. Jacobs Levy Equity Management Inc. boosted its position in Domo by 37.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 618,569 shares of the company’s stock valued at $6,068,000 after buying an additional 167,937 shares during the last quarter. Vanguard Group Inc. boosted its position in Domo by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,544,399 shares of the company’s stock valued at $44,581,000 after buying an additional 190,496 shares during the last quarter. Legato Capital Management LLC increased its stake in shares of Domo by 40.2% in the 4th quarter. Legato Capital Management LLC now owns 60,531 shares of the company’s stock valued at $623,000 after buying an additional 17,350 shares during the period. Finally, Oak Thistle LLC bought a new stake in shares of Domo during the fourth quarter worth $107,000. Institutional investors and hedge funds own 76.64% of the company’s stock.

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.