Domo (NASDAQ:DOMO) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Domo (NASDAQ:DOMO) released its quarterly earnings results on Monday. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03, FiscalAI reports. The company had revenue of $79.40 million for the quarter, compared to the consensus estimate of $79.64 million.

Domo Price Performance

DOMO traded up $0.24 during mid-day trading on Monday, hitting $3.26. The stock had a trading volume of 2,917,286 shares, compared to its average volume of 1,465,718. Domo has a 1-year low of $2.39 and a 1-year high of $18.49. The stock’s fifty day simple moving average is $3.50 and its 200-day simple moving average is $5.38. The firm has a market capitalization of $147.19 million, a price-to-earnings ratio of -2.25 and a beta of 1.78.

Insider Activity at Domo

In related news, insider Rpd Fund Management Llc sold 39,034 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 4,187,809 shares in the company, valued at $18,677,628.14. This represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 1,350,626 shares of company stock valued at $3,785,484. 13.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Domo

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in shares of Domo during the second quarter worth about $42,000. Raymond James Financial Inc. acquired a new stake in shares of Domo during the second quarter worth about $122,000. Oxford Asset Management LLP acquired a new stake in shares of Domo during the fourth quarter worth about $88,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Domo during the fourth quarter worth about $88,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Domo during the fourth quarter worth about $92,000. Institutional investors and hedge funds own 76.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on DOMO shares. TD Cowen decreased their price target on shares of Domo from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Wall Street Zen lowered shares of Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Lake Street Capital cut their price objective on shares of Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, March 11th. Weiss Ratings upgraded shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Finally, Cantor Fitzgerald cut their price objective on shares of Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.42.

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.