Domo, Inc. (NASDAQ:DOMO) Receives $4.83 Average PT from Analysts

Domo, Inc. (NASDAQ:DOMO) has earned a consensus recommendation of “Reduce” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating 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.

A number of analysts have recently weighed in on DOMO shares. Weiss Ratings raised shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. Lake Street Capital raised shares of Domo from a “hold” rating to a “buy” rating and lowered their price target for the company from $7.00 to $5.00 in a research report on Thursday. Citizens Jmp dropped their price objective on shares of Domo from $3.50 to $2.25 and set a “market underperform” rating on the stock in a research note on Tuesday, June 16th. Wall Street Zen cut shares of Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, TD Cowen downgraded shares of Domo from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.00 to $3.25 in a research note on Tuesday, June 16th.

Domo Trading Up 25.4%

DOMO opened at $3.95 on Tuesday. The company has a market cap of $178.34 million, a price-to-earnings ratio of -2.97 and a beta of 1.79. The stock has a fifty day simple moving average of $3.32 and a two-hundred day simple moving average of $4.07. Domo has a 12-month low of $1.84 and a 12-month high of $18.49.

Domo News Summary

Here are the key news stories impacting Domo this week:

• Positive Sentiment: Domo agreed to sell substantially all of its AI and data business to Progress Software for $400 million, a transaction that could significantly strengthen its balance sheet and give management more capital flexibility. Why Is Domo (DOMO) Stock Rallying Over 23% After Hours Today?
• Positive Sentiment: Unusual options activity showed traders buying 7,658 call options, nearly double the normal daily volume, indicating bullish speculation around further share gains.
• Neutral Sentiment: Lake Street Capital upgraded Domo from hold to buy, but lowered its price target to $5 from $7, suggesting modest upside from current levels.
• Negative Sentiment: Stephens downgraded Domo from overweight to equal weight and cut its price target to $4 from $5, signaling reduced enthusiasm after the asset sale.
• Negative Sentiment: Some analysts argued the divestiture leaves Domo as a limited-prospects public shell, implying the long-term operating story may be weaker after the core business sale. Domo: Sell On Limited Prospects For The Public Shell After Core Business Divestiture

Insider Buying and Selling

In other Domo news, insider Rpd Fund Management Llc sold 39,034 shares of Domo stock in a transaction 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 completion of the transaction, the insider owned 4,187,809 shares in the company, valued at approximately $18,677,628.14. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tod Crane sold 68,483 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $162,989.54. Following the completion of the sale, the chief financial officer directly owned 276,809 shares in the company, valued at $658,805.42. This trade represents a 19.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 466,662 shares of company stock worth $1,483,488. 13.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Domo

Institutional investors and hedge funds have recently modified their holdings of the stock. RPD Fund Management LLC increased its stake in Domo by 11,294.3% during the 4th quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock valued at $30,545,000 after purchasing an additional 3,591,600 shares in the last quarter. Captrust Financial Advisors purchased a new position in Domo in the fourth quarter worth about $8,108,000. First Trust Advisors LP bought a new position in shares of Domo in the third quarter worth approximately $9,744,000. AIGH Capital Management LLC lifted its stake in shares of Domo by 37.0% in the fourth quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company’s stock worth $15,492,000 after buying an additional 496,244 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Domo by 299.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 576,897 shares of the company’s stock valued at $4,863,000 after buying an additional 432,426 shares during the last quarter. 76.64% of the stock is currently owned by institutional investors.

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.