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

Domo (NASDAQ:DOMO) issued its quarterly earnings data on Monday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03, FiscalAI reports. The company had revenue of $79.40 million for the quarter, compared to analyst estimates of $79.64 million.

Domo Stock Performance

Domo stock traded up $0.24 during mid-day trading on Monday, reaching $3.26. The company’s stock had a trading volume of 2,917,286 shares, compared to its average volume of 1,465,718. The company has a market capitalization of $147.19 million, a price-to-earnings ratio of -2.25 and a beta of 1.78. Domo has a 12 month low of $2.39 and a 12 month high of $18.49. The business’s 50 day simple moving average is $3.50 and its 200 day simple moving average is $5.38.

Insiders Place Their Bets

In related news, insider Rpd Fund Management Llc sold 1,100,900 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $2.56, for a total value of $2,818,304.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,350,626 shares of company stock valued at $3,785,484 over the last ninety days. 13.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Brevan Howard Capital Management LP grew its stake in Domo by 3.9% in the third quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company’s stock valued at $804,000 after purchasing an additional 1,924 shares in the last quarter. Verition Fund Management LLC grew its stake in Domo by 8.1% in the fourth quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock valued at $302,000 after purchasing an additional 2,679 shares in the last quarter. Creative Planning grew its stake in Domo by 23.2% in the second quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after purchasing an additional 2,889 shares in the last quarter. Headlands Technologies LLC bought a new position in Domo in the second quarter valued at approximately $42,000. Finally, Rhumbline Advisers grew its stake in Domo by 9.6% in the second quarter. Rhumbline Advisers now owns 54,308 shares of the company’s stock valued at $759,000 after purchasing an additional 4,751 shares in the last quarter. 76.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOMO. Stephens dropped their price objective on shares of Domo from $18.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Cantor Fitzgerald dropped 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. DA Davidson dropped their price objective on shares of Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Lake Street Capital dropped 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. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Domo currently has an average rating of “Hold” and a consensus target price of $6.42.

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.