Domo’s (DOMO) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Domo (NASDAQ:DOMO – Get Rating) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $30.00 price objective on the stock.

Several other research firms have also issued reports on DOMO. Lake Street Capital dropped their price target on shares of Domo from $23.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, March 7th. Morgan Stanley cut Domo from an overweight rating to an equal weight rating and lowered their price target for the company from $24.00 to $16.00 in a research report on Friday, January 20th. Cowen lowered their target price on shares of Domo from $27.00 to $23.00 in a report on Friday, December 9th. Finally, Cowen reduced their price target on shares of Domo from $27.00 to $23.00 in a research report on Friday, December 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Domo currently has an average rating of Moderate Buy and a consensus target price of $22.60.

Domo Price Performance

Shares of Domo stock opened at $11.79 on Monday. Domo has a 52-week low of $11.35 and a 52-week high of $57.41. The firm has a market capitalization of $407.29 million, a PE ratio of -3.79 and a beta of 2.18. The company’s fifty day moving average price is $14.63 and its two-hundred day moving average price is $15.98.

Insider Buying and Selling

In related news, Director John R. Pestana acquired 72,500 shares of the stock in a transaction on Wednesday, March 8th. The stock was purchased at an average price of $13.68 per share, for a total transaction of $991,800.00. Following the transaction, the director now owns 96,490 shares of the company’s stock, valued at approximately $1,319,983.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. 10.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Domo

Several large investors have recently made changes to their positions in DOMO. Swiss National Bank raised its holdings in Domo by 1.0% during the 2nd quarter. Swiss National Bank now owns 69,100 shares of the company’s stock worth $1,921,000 after purchasing an additional 700 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Domo by 11.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 6,760 shares of the company’s stock worth $188,000 after acquiring an additional 720 shares during the period. Lazard Asset Management LLC grew its holdings in Domo by 90.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock worth $78,000 after acquiring an additional 740 shares during the period. Boothbay Fund Management LLC raised its position in shares of Domo by 6.7% during the 4th quarter. Boothbay Fund Management LLC now owns 12,436 shares of the company’s stock valued at $177,000 after acquiring an additional 786 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Domo by 15.5% in the 3rd quarter. Royal Bank of Canada now owns 5,975 shares of the company’s stock valued at $107,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 71.40% of the company’s stock.

About Domo

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Domo, Inc designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. The company was founded by Joshua G. James in September 2010 and is headquartered in American Fork, UT.