Domo (NASDAQ:DOMO) Downgraded to “Equal Weight” Rating by Stephens

Stephens lowered shares of Domo (NASDAQ:DOMO) from an overweight rating to an equal weight rating in a research report released on Thursday morning, MarketBeat reports. Stephens currently has $4.00 price objective on the stock, down from their previous price objective of $5.00.

Several other analysts also recently weighed in on the company. Citizens Jmp cut their target price on Domo from $3.50 to $2.25 and set a “market underperform” rating on the stock in a research note on Tuesday, June 16th. TD Cowen downgraded shares of Domo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $6.00 to $3.25 in a report on Tuesday, June 16th. UBS Group reiterated a “neutral” rating on shares of Domo in a research report on Tuesday, June 16th. DA Davidson reissued a “neutral” rating and set a $3.50 target price on shares of Domo in a research note on Tuesday, June 16th. Finally, Wall Street Zen cut shares of Domo from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.95.

Domo Stock Up 25.4%

Shares of NASDAQ:DOMO opened at $3.95 on Thursday. The company has a market cap of $178.34 million, a PE ratio of -2.97 and a beta of 1.79. The company’s 50-day moving average price is $3.32 and its 200 day moving average price is $4.07. Domo has a fifty-two week low of $1.84 and a fifty-two week high of $18.49.

Insider Transactions at Domo

In other news, insider Rpd Fund Management Llc sold 39,034 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $4.46, for a total value of $174,091.64. Following the sale, the insider owned 4,187,809 shares of the company’s stock, valued at approximately $18,677,628.14. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joshua G. James sold 96,088 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total value of $228,689.44. Following the completion of the sale, the chief executive officer owned 1,638,873 shares of the company’s stock, valued at approximately $3,900,517.74. This trade represents a 5.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 466,662 shares of company stock valued at $1,483,488 in the last quarter. Company insiders own 13.25% of the company’s stock.

Institutional Investors Weigh In On Domo

A number of institutional investors and hedge funds have recently bought and sold shares of DOMO. Headlands Technologies LLC acquired a new position in shares of Domo in the 2nd quarter worth approximately $42,000. Raymond James Financial Inc. acquired a new stake in Domo during the second quarter valued at approximately $122,000. Andina Capital Management LLC acquired a new stake in Domo during the fourth quarter valued at approximately $84,000. Oxford Asset Management LLP bought a new stake in Domo during the fourth quarter worth approximately $88,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Domo during the fourth quarter worth approximately $88,000. 76.64% of the stock is owned by institutional investors and hedge funds.

Domo News Summary

Here are the key news stories impacting Domo this week:

• Positive Sentiment: Domo agreed to sell substantially all of its AI and data business to Progress Software for $400 million, a transaction that could significantly strengthen its balance sheet and give management more capital flexibility. Why Is Domo (DOMO) Stock Rallying Over 23% After Hours Today?
• Positive Sentiment: Unusual options activity showed traders buying 7,658 call options, nearly double the normal daily volume, indicating bullish speculation around further share gains.
• Neutral Sentiment: Lake Street Capital upgraded Domo from hold to buy, but lowered its price target to $5 from $7, suggesting modest upside from current levels.
• Negative Sentiment: Stephens downgraded Domo from overweight to equal weight and cut its price target to $4 from $5, signaling reduced enthusiasm after the asset sale.
• Negative Sentiment: Some analysts argued the divestiture leaves Domo as a limited-prospects public shell, implying the long-term operating story may be weaker after the core business sale. Domo: Sell On Limited Prospects For The Public Shell After Core Business Divestiture

About Domo

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.