Domo (NASDAQ:DOMO) Announces Quarterly Earnings Results

Domo (NASDAQ:DOMO) issued its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, reports. The company had revenue of $76.78 million for the quarter, compared to analysts’ expectations of $78.06 million.

Domo Trading Up 2.4%

DOMO stock opened at $3.88 on Friday. The stock has a 50-day moving average price of $3.66 and a two-hundred day moving average price of $3.57. Domo has a 1 year low of $1.84 and a 1 year high of $18.49. The stock has a market cap of $175.19 million, a PE ratio of -2.92 and a beta of 1.76.

Analysts Set New Price Targets

Several analysts recently commented on DOMO shares. Lake Street Capital raised Domo from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $7.00 to $5.00 in a research note on Thursday, July 23rd. Citizens Jmp reissued a “market underperform” rating and issued a $2.25 target price on shares of Domo in a research note on Monday, August 17th. TD Cowen lowered Domo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $6.00 to $3.25 in a research report on Tuesday, June 16th. Cantor Fitzgerald cut Domo from an “overweight” rating to a “hold” rating and set a $4.84 price objective on the stock. in a report on Thursday, July 23rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $3.50 price objective on shares of Domo in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $3.95.

Insider Activity

In other news, EVP Daren Thayne sold 52,365 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the sale, the executive vice president directly owned 498,051 shares in the company, valued at $1,185,361.38. The trade was a 9.51% 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, CEO Joshua James sold 96,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total value of $228,689.44. Following the completion of the sale, the chief executive officer owned 1,638,873 shares in the company, valued at $3,900,517.74. The trade was a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,936 shares of company stock worth $516,308 over the last three months. Corporate insiders own 13.25% of the company’s stock.

Institutional Trading of Domo

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Domo in the second quarter valued at $42,000. Kemnay Advisory Services Inc. acquired a new position in shares of Domo during the 4th quarter worth about $88,000. Oxford Asset Management LLP acquired a new position in shares of Domo during the 4th quarter worth about $88,000. Public Employees Retirement System of Ohio acquired a new position in shares of Domo during the 4th quarter worth about $92,000. Finally, Raymond James Financial Inc. bought a new position in shares of Domo in the 2nd quarter valued at about $122,000. Institutional investors own 76.64% of the company’s stock.

About Domo

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.