Domo (NASDAQ:DOMO) Updates FY23 Earnings Guidance

Domo (NASDAQ:DOMOGet Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share guidance of $(1.34)-$(1.26) for the period, compared to the consensus earnings per share estimate of ($1.48). The company issued revenue guidance of $315-$319 million, compared to the consensus revenue estimate of $316.96 million.Domo also updated its FY 2023 guidance to -$1.34–$1.26 EPS.

A number of research analysts have recently commented on the company. Cowen cut their price target on Domo from $85.00 to $70.00 in a report on Monday. Cowen cut their price target on Domo from $85.00 to $70.00 in a report on Monday. Zacks Investment Research upgraded Domo from a sell rating to a hold rating in a report on Friday, April 29th. Morgan Stanley cut their price target on Domo from $90.00 to $74.00 and set an overweight rating for the company in a report on Thursday, May 19th. Finally, JMP Securities cut their price target on Domo from $106.00 to $88.00 and set a market outperform rating for the company in a report on Wednesday, March 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and an average price target of $82.40.

Shares of NASDAQ DOMO traded up $0.42 during trading hours on Thursday, reaching $30.14. The stock had a trading volume of 392,755 shares, compared to its average volume of 378,792. The business’s fifty day moving average is $42.69 and its two-hundred day moving average is $49.06. The company has a market cap of $994.44 million, a price-to-earnings ratio of -9.51 and a beta of 2.66. Domo has a twelve month low of $27.27 and a twelve month high of $98.35.

Domo (NASDAQ:DOMOGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.13). The company had revenue of $70.00 million during the quarter, compared to analyst estimates of $67.10 million. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.65) EPS. Research analysts predict that Domo will post -3.16 earnings per share for the current year.

In other Domo news, CFO Bruce C. Jr. Felt sold 20,000 shares of the company’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $48.52, for a total value of $970,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Joshua G. James sold 26,360 shares of the stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $49.61, for a total value of $1,307,719.60. The disclosure for this sale can be found here. Insiders sold 106,053 shares of company stock worth $5,441,410 over the last quarter. Company insiders own 14.35% of the company’s stock.

Several hedge funds have recently made changes to their positions in DOMO. Lazard Asset Management LLC grew its holdings in shares of Domo by 90.1% during the first quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock worth $78,000 after purchasing an additional 740 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Domo by 44.7% during the fourth quarter. Penserra Capital Management LLC now owns 1,684 shares of the company’s stock worth $83,000 after purchasing an additional 520 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Domo by 29.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,625 shares of the company’s stock worth $203,000 after purchasing an additional 835 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in Domo by 60.7% in the first quarter. Point72 Hong Kong Ltd now owns 4,188 shares of the company’s stock valued at $212,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Domo by 16.3% in the fourth quarter. Mackenzie Financial Corp now owns 5,561 shares of the company’s stock valued at $276,000 after acquiring an additional 778 shares during the last quarter. Institutional investors own 72.40% of the company’s stock.

About Domo (Get Rating)

Domo, Inc operates a cloud-based business intelligence platform in the United States, Japan, and internationally. Its platform digitally connects from the chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.

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