Domo (NASDAQ:DOMO) Coverage Initiated at Stephens

Equities researchers at Stephens assumed coverage on shares of Domo (NASDAQ:DOMO) in a report issued on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $19.00 price target on the stock. Stephens’ target price points to a potential upside of 16.64% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price objective on shares of Domo in a research report on Wednesday, June 25th. DA Davidson upped their price target on shares of Domo from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Citigroup restated an “outperform” rating on shares of Domo in a research note on Wednesday, June 25th. Cowen restated a “hold” rating on shares of Domo in a research note on Thursday, May 22nd. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $9.00 price target (up previously from $8.50) on shares of Domo in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.14.

Domo Stock Performance

DOMO stock opened at $16.29 on Friday. The company has a market capitalization of $655.51 million, a PE ratio of -8.62 and a beta of 1.84. Domo has a one year low of $6.01 and a one year high of $16.41. The company’s 50 day moving average price is $12.78 and its two-hundred day moving average price is $9.56.

Domo (NASDAQ:DOMO) last issued its earnings results on Wednesday, May 21st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.10. The firm had revenue of $80.11 million during the quarter, compared to analysts’ expectations of $77.75 million. During the same period in the previous year, the firm earned ($0.33) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts predict that Domo will post -2.1 EPS for the current year.

Insider Buying and Selling at Domo

In other Domo news, CEO Joshua G. James bought 13,025 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $12.74 per share, with a total value of $165,938.50. Following the completion of the acquisition, the chief executive officer owned 1,079,972 shares in the company, valued at $13,758,843.28. This trade represents a 1.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.24% of the company’s stock.

Institutional Trading of Domo

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Domo by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company’s stock worth $622,000 after purchasing an additional 1,826 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Domo in the fourth quarter valued at about $173,000. Intech Investment Management LLC purchased a new position in Domo in the fourth quarter valued at about $103,000. Semanteon Capital Management LP purchased a new position in Domo in the fourth quarter valued at about $217,000. Finally, Fox Run Management L.L.C. purchased a new position in Domo in the fourth quarter valued at about $210,000. 76.64% of the stock is currently owned by institutional investors.

About Domo

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.