Domo (NASDAQ:DOMO) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Domo (NASDAQ:DOMO) in a report issued on Friday, Benzinga reports. JMP Securities currently has a $16.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen raised their price target on shares of Domo from $8.00 to $9.00 and gave the stock a hold rating in a research note on Friday. Lake Street Capital cut shares of Domo from a buy rating to a hold rating and decreased their target price for the stock from $15.00 to $8.00 in a research report on Friday, May 24th. Finally, Morgan Stanley decreased their target price on shares of Domo from $13.00 to $7.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Domo has a consensus rating of Hold and a consensus target price of $9.60.

Domo Price Performance

Domo stock opened at $7.47 on Friday. Domo has a 12-month low of $6.11 and a 12-month high of $12.23. The stock has a market capitalization of $285.17 million, a P/E ratio of -3.56 and a beta of 2.45. The firm’s 50-day moving average is $7.80 and its two-hundred day moving average is $8.24.

Insider Activity at Domo

In related news, EVP Daren Thayne sold 7,095 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $6.85, for a total value of $48,600.75. Following the transaction, the executive vice president now owns 406,663 shares in the company, valued at $2,785,641.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Domo news, Director Daniel David Daniel III purchased 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average price of $6.69 per share, for a total transaction of $1,003,500.00. Following the completion of the acquisition, the director now owns 411,400 shares of the company’s stock, valued at approximately $2,752,266. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daren Thayne sold 7,095 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $6.85, for a total transaction of $48,600.75. Following the completion of the transaction, the executive vice president now owns 406,663 shares in the company, valued at approximately $2,785,641.55. The disclosure for this sale can be found here. 14.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP raised its holdings in Domo by 192.5% in the first quarter. GSA Capital Partners LLP now owns 193,106 shares of the company’s stock valued at $1,723,000 after buying an additional 127,091 shares during the period. King Luther Capital Management Corp purchased a new stake in shares of Domo during the fourth quarter valued at approximately $1,133,000. Invenomic Capital Management LP raised its stake in shares of Domo by 42.1% during the first quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock valued at $2,827,000 after purchasing an additional 93,858 shares during the period. Acadian Asset Management LLC raised its stake in shares of Domo by 43.8% during the first quarter. Acadian Asset Management LLC now owns 984,107 shares of the company’s stock valued at $8,775,000 after purchasing an additional 299,747 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Domo by 2.3% during the first quarter. Vanguard Group Inc. now owns 4,826,254 shares of the company’s stock valued at $43,050,000 after purchasing an additional 108,200 shares during the period. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.