Domo (NASDAQ:DOMO) Price Target Cut to $16.00 by Analysts at JMP Securities

Domo (NASDAQ:DOMO) had its price target lowered by JMP Securities from $23.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other analysts have also recently issued reports on the company. Lake Street Capital cut Domo from a buy rating to a hold rating and cut their target price for the stock from $15.00 to $8.00 in a research report on Friday. TD Cowen cut their target price on Domo from $11.50 to $10.00 and set a hold rating for the company in a research report on Tuesday. DA Davidson reiterated a neutral rating and set a $10.00 target price on shares of Domo in a research report on Thursday, March 28th. Finally, Morgan Stanley cut their target price on Domo from $13.00 to $7.00 and set an equal weight rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $10.20.

Domo Stock Down 2.2 %

DOMO traded down $0.16 during midday trading on Friday, reaching $6.97. The company had a trading volume of 1,729,397 shares, compared to its average volume of 348,390. The business has a 50-day moving average of $8.09 and a two-hundred day moving average of $9.42. The company has a market cap of $265.07 million, a P/E ratio of -3.32 and a beta of 2.35. Domo has a 1 year low of $6.11 and a 1 year high of $18.19.

Domo (NASDAQ:DOMO) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.05). The business had revenue of $80.18 million during the quarter, compared to analyst estimates of $79.46 million. On average, equities research analysts predict that Domo will post -2 EPS for the current year.

Insider Buying and Selling

In related news, EVP Daren Thayne sold 41,218 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $9.33, for a total transaction of $384,563.94. Following the completion of the sale, the executive vice president now directly owns 368,824 shares of the company’s stock, valued at approximately $3,441,127.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Domo news, EVP Daren Thayne sold 41,218 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $9.33, for a total transaction of $384,563.94. Following the transaction, the executive vice president now directly owns 368,824 shares in the company, valued at approximately $3,441,127.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua G. James sold 107,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $9.38, for a total value of $1,003,660.00. Following the transaction, the chief executive officer now owns 881,765 shares in the company, valued at $8,270,955.70. The disclosure for this sale can be found here. In the last three months, insiders sold 206,056 shares of company stock valued at $1,911,367. Insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in shares of Domo by 161.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock valued at $27,000 after acquiring an additional 1,622 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Domo during the 1st quarter worth $43,000. EntryPoint Capital LLC purchased a new position in Domo during the 1st quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Domo by 58.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after buying an additional 2,212 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in Domo during the 4th quarter worth $107,000. 76.64% of the stock is currently owned by hedge funds and other 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.