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

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

Domo Stock Up 7.9%

Shares of Domo stock traded up $0.24 on Monday, hitting $3.26. 3,328,320 shares of the company were exchanged, compared to its average volume of 1,475,328. The stock has a market capitalization of $147.19 million, a price-to-earnings ratio of -2.25 and a beta of 1.78. The company has a 50-day moving average price of $3.50 and a 200 day moving average price of $5.38. Domo has a 1-year low of $2.39 and a 1-year high of $18.49.

Insider Buying and Selling at Domo

In other news, insider Rpd Fund Management Llc sold 1,100,900 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $2.56, for a total transaction of $2,818,304.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 1,350,626 shares of company stock worth $3,785,484. Insiders own 13.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DOMO. Headlands Technologies LLC acquired a new position in shares of Domo during the 2nd quarter worth approximately $42,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Domo in the 4th quarter valued at approximately $88,000. Oxford Asset Management LLP purchased a new stake in shares of Domo in the 4th quarter valued at approximately $88,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Domo in the 4th quarter valued at approximately $92,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Domo during the 2nd quarter valued at approximately $122,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DOMO. Weiss Ratings upgraded Domo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. DA Davidson lowered their price objective on Domo from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Stephens lowered their price objective on Domo from $18.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Lake Street Capital lowered their price objective on Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, March 11th. Finally, Cantor Fitzgerald lowered their price objective on Domo from $13.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company 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.