Analysts Set Domo, Inc. (NASDAQ:DOMO) PT at $6.92

Shares of Domo, Inc. (NASDAQ:DOMO) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.9167.

A number of analysts have recently commented on the company. Weiss Ratings raised Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Stephens dropped their price objective on Domo from $18.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. DA Davidson decreased their target price on Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Citizens Jmp restated an “underperform” rating and issued a $3.50 target price on shares of Domo in a report on Friday, February 13th. Finally, Wall Street Zen cut Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th.

Insider Activity

In related news, insider Rpd Fund Management Llc sold 1,100,900 shares of Domo stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.56, for a total value of $2,818,304.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,350,626 shares of company stock valued at $3,785,484. Insiders own 15.24% of the company’s stock.

Hedge Funds Weigh In On Domo

Hedge funds have recently modified their holdings of the stock. Portolan Capital Management LLC grew its holdings in shares of Domo by 142.3% in the 3rd quarter. Portolan Capital Management LLC now owns 2,684,753 shares of the company’s stock worth $42,526,000 after acquiring an additional 1,576,884 shares during the last quarter. AIGH Capital Management LLC grew its holdings in shares of Domo by 37.0% in the 4th quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company’s stock worth $15,492,000 after acquiring an additional 496,244 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Domo in the 3rd quarter worth $43,560,000. Global Wealth Strategies & Associates purchased a new position in shares of Domo during the fourth quarter valued at $28,000. Finally, Firsthand Capital Management Inc. grew its holdings in shares of Domo by 8.7% during the third quarter. Firsthand Capital Management Inc. now owns 250,000 shares of the company’s stock valued at $3,960,000 after buying an additional 20,000 shares in the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Key Domo News

Here are the key news stories impacting Domo this week:

• Positive Sentiment: Domo announced an AI-focused healthcare operations collaboration with Regional One Health Solutions, built on AWS, which could support longer-term demand for its analytics platform. Domo and Regional One Health Solutions Put AI to Work in Healthcare Operations, Built on AWS
• Neutral Sentiment: Investors are also focused on Domo’s upcoming quarterly earnings, which adds event risk and may be keeping traders cautious ahead of results. Domo (DOMO) Projected to Post Quarterly Earnings on Tuesday
• Negative Sentiment: Multiple filings showed Rpd Fund Management LLC trimming its stake in repeated transactions, including a large 1.1 million-share sale in April and several smaller sales in late May and early June, which can signal reduced insider confidence. SEC insider filing
• Negative Sentiment: A broader market note also said Domo, along with peers like ZoomInfo and Upland Software, was trading lower as software stocks came under pressure. Domo, ZoomInfo, Upland Software, and commerce stocks trade down, what you need to know

Domo Stock Performance

DOMO opened at $3.75 on Monday. Domo has a one year low of $2.39 and a one year high of $18.49. The stock’s fifty day moving average is $3.48 and its 200-day moving average is $5.78. The company has a market capitalization of $169.31 million, a PE ratio of -2.59 and a beta of 1.78.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.16). The firm had revenue of $79.63 million during the quarter, compared to the consensus estimate of $78.65 million. The business’s quarterly revenue was up 1% on a year-over-year basis. On average, equities research analysts forecast that Domo will post -1.43 EPS for the current fiscal year.

About Domo

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.