Brokerages Set Domo, Inc. (NASDAQ:DOMO) Target Price at $4.83

Domo, Inc. (NASDAQ:DOMO) has been given a consensus recommendation of “Reduce” by the nine research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.9543.

Several equities analysts recently commented on the company. Wall Street Zen downgraded Domo from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. DA Davidson reissued a “neutral” rating and issued a $3.50 target price on shares of Domo in a research report on Tuesday, June 16th. Weiss Ratings upgraded Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. TD Cowen cut Domo from a “buy” rating to a “hold” rating and dropped their price target for the company from $6.00 to $3.25 in a research report on Tuesday, June 16th. Finally, Cantor Fitzgerald downgraded Domo from an “overweight” rating to a “hold” rating and set a $4.84 price target for the company. in a research note on Thursday.

Domo Stock Down 6.8%

DOMO opened at $3.68 on Tuesday. Domo has a twelve month low of $1.84 and a twelve month high of $18.49. The company’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $4.07. The stock has a market cap of $166.15 million, a price-to-earnings ratio of -2.77 and a beta of 1.79.

Key Headlines Impacting Domo

Here are the key news stories impacting Domo this week:

• Positive Sentiment: Domo agreed to sell substantially all of its AI and data business to Progress Software for $400 million, a deal that sparked a sharp after-hours rally as investors reassessed the company’s value. Domo Announces Agreement to Sell Substantially All Assets and Certain Liabilities to Progress Software for $400 Million
• Positive Sentiment: Unusual options activity showed a surge in call buying, suggesting traders were positioning for more upside ahead of or following the deal news. Why Is Domo (DOMO) Stock Rallying Over 23% After Hours Today?
• Positive Sentiment: Lake Street Capital upgraded Domo to buy and set a $5 price target, indicating additional upside from current levels despite trimming its valuation outlook. Lake Street Capital upgrade coverage
• Neutral Sentiment: Reports noted that Domo will keep its current leadership and operate as a separate entity after the transaction, leaving some uncertainty about the company’s long-term standalone strategy. Domo sells its main businesses for $400 million, leaving founder Josh James with a hoard of cash to put to work
• Negative Sentiment: Stephens downgraded Domo to equal weight and reduced its price target to $4, reflecting caution about the company’s prospects after the divestiture. Stephens downgrade coverage
• Negative Sentiment: Some analysts and commentary suggested the remaining public company may have limited prospects after shedding its core business, which could weigh on the stock over time. Domo: Sell On Limited Prospects For The Public Shell After Core Business Divestiture

Insider Transactions at Domo

In related news, 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 value of $228,689.44. Following the completion of the transaction, the chief executive officer directly owned 1,638,873 shares in the company, valued at approximately $3,900,517.74. The trade was a 5.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daren Thayne sold 52,365 shares of Domo stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total value of $124,628.70. Following the completion of the transaction, the executive vice president owned 498,051 shares of the company’s stock, valued at approximately $1,185,361.38. This trade represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 466,662 shares of company stock valued at $1,483,488. 13.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. RPD Fund Management LLC increased its holdings in shares of Domo by 11,294.3% in the fourth quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock worth $30,545,000 after purchasing an additional 3,591,600 shares during the period. Captrust Financial Advisors bought a new stake in Domo during the fourth quarter valued at $8,108,000. First Trust Advisors LP purchased a new position in Domo during the third quarter worth about $9,744,000. AIGH Capital Management LLC grew its position in Domo by 37.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company’s stock worth $15,492,000 after buying an additional 496,244 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Domo by 299.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 576,897 shares of the company’s stock worth $4,863,000 after acquiring an additional 432,426 shares during the last quarter. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

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.