Domo (NASDAQ:DOMO) Reaches New 1-Year High – Still a Buy?

Domo, Inc. (NASDAQ:DOMO)’s share price reached a new 52-week high on Tuesday . The company traded as high as $13.53 and last traded at $13.21, with a volume of 1381642 shares changing hands. The stock had previously closed at $12.70.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DOMO shares. Morgan Stanley reduced their price objective on shares of Domo from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Lake Street Capital reissued a “hold” rating and set a $9.00 price objective (up previously from $8.50) on shares of Domo in a report on Thursday, May 22nd. Cantor Fitzgerald boosted their target price on Domo from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. DA Davidson increased their price target on Domo from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Finally, Cowen reissued a “hold” rating on shares of Domo in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.67.

Domo Stock Performance

The firm has a 50 day moving average of $8.73 and a two-hundred day moving average of $8.30. The stock has a market cap of $546.38 million, a P/E ratio of -6.25 and a beta of 1.67.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.10. The business had revenue of $80.11 million during the quarter, compared to the consensus estimate of $77.75 million. During the same period in the prior year, the company posted ($0.33) earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that Domo, Inc. will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling at Domo

In related news, Director David R. Jolley sold 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total value of $207,750.00. Following the completion of the transaction, the director now directly owns 255,743 shares in the company, valued at approximately $2,125,224.33. This represents a 8.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel David Daniel III bought 120,000 shares of Domo stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $6.44 per share, with a total value of $772,800.00. Following the completion of the transaction, the director now owns 781,400 shares of the company’s stock, valued at $5,032,216. This trade represents a 18.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.24% of the company’s stock.

Hedge Funds Weigh In On Domo

A number of hedge funds and other institutional investors have recently made changes to their positions in DOMO. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Domo in the 4th quarter worth approximately $47,000. Riggs Capital Management LLC bought a new stake in Domo in the fourth quarter valued at $85,000. SG Americas Securities LLC grew its position in Domo by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock valued at $99,000 after acquiring an additional 2,247 shares during the period. Intech Investment Management LLC acquired a new position in Domo during the fourth quarter worth $103,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Domo by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock valued at $125,000 after acquiring an additional 4,000 shares during the period. 76.64% of the stock is owned by institutional investors.

Domo Company Profile

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.