Domo (NASDAQ:DOMO) Cut to Equal Weight at Stephens

Domo (NASDAQ:DOMO) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday. They currently have a $4.00 target price on the stock. Stephens’ price target would indicate a potential upside of 26.98% from the company’s current price.

A number of other brokerages have also recently commented on DOMO. DA Davidson reaffirmed a “neutral” rating and issued a $3.50 price target on shares of Domo in a research note on Tuesday, June 16th. TD Cowen cut Domo from a “buy” rating to a “hold” rating and cut their target price for the stock from $6.00 to $3.25 in a research note on Tuesday, June 16th. Wall Street Zen cut Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings upgraded Domo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Finally, Cantor Fitzgerald cut their price target on shares of Domo from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $4.17.

Domo Trading Down 8.4%

Shares of NASDAQ:DOMO opened at $3.15 on Thursday. The stock has a market capitalization of $142.22 million, a P/E ratio of -2.37 and a beta of 1.79. The stock’s 50-day moving average price is $3.31 and its 200-day moving average price is $4.11. Domo has a 12-month low of $1.84 and a 12-month high of $18.49.

Insider Transactions at Domo

In other news, EVP Daren Thayne sold 52,365 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the completion of the transaction, the executive vice president owned 498,051 shares in the company, valued at $1,185,361.38. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joshua G. James sold 96,088 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 value of $228,689.44. Following the sale, the chief executive officer owned 1,638,873 shares in the company, valued at $3,900,517.74. This represents a 5.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 466,662 shares of company stock worth $1,483,488 over the last quarter. Insiders own 13.25% of the company’s stock.

Hedge Funds Weigh In On Domo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOMO. Bank of America Corp DE lifted its position in Domo by 41.1% during the first quarter. Bank of America Corp DE now owns 55,048 shares of the company’s stock valued at $168,000 after buying an additional 16,029 shares during the period. Quantinno Capital Management LP grew its position in shares of Domo by 362.4% in the 1st quarter. Quantinno Capital Management LP now owns 61,535 shares of the company’s stock worth $188,000 after buying an additional 48,226 shares during the period. RPD Fund Management LLC grew its position in shares of Domo by 27.3% in the 1st quarter. RPD Fund Management LLC now owns 4,613,726 shares of the company’s stock worth $14,118,000 after buying an additional 990,326 shares during the period. Rangeley Capital LLC bought a new position in shares of Domo in the 1st quarter worth about $80,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Domo by 316.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 45,420 shares of the company’s stock worth $139,000 after acquiring an additional 34,520 shares in the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.