Analysts Set Domo, Inc. (NASDAQ:DOMO) Price Target at $3.95

Shares of Domo, Inc. (NASDAQ:DOMO) have received a consensus rating of “Reduce” from the nine brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $3.9543.

DOMO has been the subject of several research analyst reports. Weiss Ratings raised shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. Stephens cut Domo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday, July 23rd. Citizens Jmp restated a “market underperform” rating and set a $2.25 price objective on shares of Domo in a report on Monday, August 17th. Citigroup reaffirmed a “market underperform” rating on shares of Domo in a research report on Monday, August 17th. Finally, Wall Street Zen cut Domo from a “hold” rating to a “sell” rating in a report on Saturday.

Insider Activity

In related news, CFO Tod Crane sold 68,483 shares of Domo stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $162,989.54. Following the completion of the sale, the chief financial officer directly owned 276,809 shares in the company, valued at $658,805.42. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joshua James sold 96,088 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $228,689.44. Following the completion of the sale, the chief executive officer directly owned 1,638,873 shares of the company’s stock, valued at approximately $3,900,517.74. This trade represents a 5.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 216,936 shares of company stock worth $516,308. Company insiders own 13.25% of the company’s stock.

Institutional Investors Weigh In On Domo

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in Domo during the second quarter valued at approximately $305,000. Bank of America Corp DE lifted its holdings in Domo by 41.1% during the first quarter. Bank of America Corp DE now owns 55,048 shares of the company’s stock worth $168,000 after buying an additional 16,029 shares during the period. Quantinno Capital Management LP lifted its holdings in Domo by 362.4% during the first quarter. Quantinno Capital Management LP now owns 61,535 shares of the company’s stock worth $188,000 after buying an additional 48,226 shares during the period. RPD Fund Management LLC lifted its holdings in Domo by 27.3% during the first quarter. RPD Fund Management LLC now owns 4,613,726 shares of the company’s stock worth $14,118,000 after buying an additional 990,326 shares during the period. Finally, Rangeley Capital LLC bought a new stake in Domo during the 1st quarter valued at $80,000. Institutional investors own 76.64% of the company’s stock.

Domo Price Performance

DOMO stock opened at $3.92 on Wednesday. Domo has a 12 month low of $1.84 and a 12 month high of $18.49. The firm’s 50-day moving average is $3.72 and its 200 day moving average is $3.56. The company has a market capitalization of $176.99 million, a PE ratio of -2.95 and a beta of 1.76.

Domo (NASDAQ:DOMO) last released its quarterly earnings data on Thursday, September 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $76.78 million for the quarter, compared to the consensus estimate of $78.06 million. Sell-side analysts forecast that Domo will post -1.41 EPS for the current fiscal year.

Domo Company Profile

Domo, Inc is a cloud-based software company that provides data and business intelligence solutions. Its platform is designed to help organizations connect, organize, analyze and visualize data from multiple sources, enabling users to monitor operations and support data-driven decision-making.

Domo’s services include data integration, dashboards, reporting, data visualization, collaboration tools, embedded analytics and applications for specific business functions. The platform also provides capabilities for data governance, workflow management and automation, allowing companies to share insights and coordinate actions across departments.

Founded in 2010 by entrepreneur Josh James, Domo is headquartered in American Fork, Utah, and serves organizations across a range of industries and geographic markets.