Domo, Inc. (NASDAQ:DOMO) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Domo, Inc. (NASDAQ:DOMO) have been given an average recommendation of “Reduce” by the nine research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $3.9543.

Several equities analysts have commented on the stock. Weiss Ratings raised shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. DA Davidson reaffirmed a “neutral” rating and issued a $3.50 price target on shares of Domo in a research report on Tuesday, June 16th. TD Cowen downgraded Domo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $6.00 to $3.25 in a research note on Tuesday, June 16th. Lake Street Capital raised Domo from a “hold” rating to a “buy” rating and lowered their price objective for the company from $7.00 to $5.00 in a report on Thursday, July 23rd. Finally, Citizens Jmp cut their price objective on Domo from $3.50 to $2.25 and set a “market underperform” rating on the stock in a research note on Tuesday, June 16th.

Insider Buying and Selling

In other Domo news, insider Rpd Fund Management Llc sold 39,034 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $4.46, for a total transaction of $174,091.64. Following the transaction, the insider owned 4,187,809 shares in the company, valued at $18,677,628.14. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tod Crane sold 68,483 shares of Domo stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total transaction of $162,989.54. Following the completion of the transaction, the chief financial officer directly owned 276,809 shares in the company, valued at approximately $658,805.42. This represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 466,662 shares of company stock worth $1,483,488 over the last ninety days. Company insiders own 13.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brevan Howard Capital Management LP raised its holdings in Domo by 3.9% in the 3rd quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company’s stock worth $804,000 after acquiring an additional 1,924 shares during the period. Verition Fund Management LLC boosted its holdings in Domo by 8.1% during the fourth quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock valued at $302,000 after acquiring an additional 2,679 shares during the period. Creative Planning boosted its holdings in Domo by 23.2% during the second quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after acquiring an additional 2,889 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Domo in the second quarter valued at about $42,000. Finally, Rhumbline Advisers grew its position in shares of 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 during the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Domo Trading Down 3.0%

DOMO stock opened at $3.57 on Tuesday. Domo has a 1 year low of $1.84 and a 1 year high of $18.49. The company has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $4.01. The firm has a market cap of $161.19 million, a PE ratio of -2.68 and a beta of 1.79.

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.