JMP Securities Reiterates Market Outperform Rating for Domo (NASDAQ:DOMO)

Domo (NASDAQ:DOMO)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $16.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 105.39% from the company’s previous close.

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

Domo Trading Up 2.5 %

NASDAQ:DOMO opened at $7.79 on Monday. Domo has a 12 month low of $6.11 and a 12 month high of $18.19. The stock has a 50 day moving average of $7.16 and a two-hundred day moving average of $8.98. The firm has a market cap of $297.34 million, a P/E ratio of -3.71 and a beta of 2.45.

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

Insider Activity at Domo

In related news, EVP Daren Thayne sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $9.04, for a total value of $203,400.00. Following the transaction, the executive vice president now directly owns 343,758 shares in the company, valued at $3,107,572.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Daren Thayne sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $9.04, for a total value of $203,400.00. Following the transaction, the executive vice president now directly owns 343,758 shares in the company, valued at $3,107,572.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David R. Jolley sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $8.50, for a total value of $102,000.00. Following the completion of the transaction, the chief financial officer now owns 215,543 shares in the company, valued at $1,832,115.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,595 shares of company stock worth $354,001. Insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Domo by 161.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $27,000 after purchasing an additional 1,622 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Domo during the first quarter worth $43,000. EntryPoint Capital LLC acquired a new position in Domo during the first quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Domo by 58.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after purchasing an additional 2,212 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Domo during the fourth quarter worth $107,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

About Domo

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.