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

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

Other analysts have also issued research reports about the stock. TD Cowen lifted their target price on shares of Domo from $8.00 to $9.00 and gave the company a hold rating in a research report on Friday. Lake Street Capital lowered shares of Domo from a buy rating to a hold rating and dropped their target price for the company from $15.00 to $8.00 in a research report on Friday, May 24th. Finally, Morgan Stanley dropped 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Domo presently has an average rating of Hold and a consensus target price of $9.60.

Domo Stock Performance

DOMO stock opened at $7.47 on Friday. The firm’s fifty day moving average is $7.80 and its 200 day moving average is $8.24. Domo has a one year low of $6.11 and a one year high of $12.23. The firm has a market cap of $285.17 million, a PE ratio of -3.56 and a beta of 2.45.

Insider Buying and Selling

In related news, EVP Daren Thayne sold 7,095 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $6.85, for a total transaction of $48,600.75. Following the transaction, the executive vice president now directly owns 406,663 shares in the company, valued at $2,785,641.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Domo news, Director Daniel David Daniel III purchased 150,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $6.87 per share, for a total transaction of $1,030,500.00. Following the completion of the transaction, the director now owns 561,400 shares of the company’s stock, valued at approximately $3,856,818. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daren Thayne sold 7,095 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $6.85, for a total transaction 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 disclosure for this sale can be found here. 14.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Domo

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Domo by 2.3% during the first quarter. Vanguard Group Inc. now owns 4,826,254 shares of the company’s stock worth $43,050,000 after purchasing an additional 108,200 shares during the period. Acadian Asset Management LLC raised its stake in Domo by 32.3% during the second quarter. Acadian Asset Management LLC now owns 1,301,495 shares of the company’s stock worth $10,042,000 after purchasing an additional 317,388 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Domo by 0.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 628,503 shares of the company’s stock worth $5,606,000 after purchasing an additional 2,501 shares during the period. 272 Capital LP raised its stake in Domo by 52.1% during the second quarter. 272 Capital LP now owns 416,464 shares of the company’s stock worth $3,215,000 after purchasing an additional 142,609 shares during the period. Finally, Invenomic Capital Management LP raised its stake in Domo by 42.1% during the first quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock worth $2,827,000 after purchasing an additional 93,858 shares during the period. 76.64% of the stock is owned by hedge funds and other institutional investors.

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.