Domo (NASDAQ:DOMO) Updates FY 2023 Earnings Guidance

Domo (NASDAQ:DOMOGet Rating) updated its FY 2023 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 $315.00 million-$319.00 million, compared to the consensus revenue estimate of $316.96 million.Domo also updated its Q2 2023 guidance to -$0.35–$0.31 EPS.

Several analysts recently commented on the company. Cowen decreased their price target on Domo from $85.00 to $70.00 in a research note on Monday, May 23rd. JMP Securities reduced their price objective on Domo from $88.00 to $59.00 in a research note on Friday, May 27th. Cowen reduced their price objective on Domo from $85.00 to $70.00 in a research note on Monday, May 23rd. Zacks Investment Research raised Domo from a sell rating to a hold rating in a research note on Friday, April 29th. Finally, Morgan Stanley dropped their target price on Domo from $90.00 to $74.00 and set an overweight rating for the company in a research report on Thursday, May 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Domo presently has a consensus rating of Buy and a consensus target price of $76.60.

NASDAQ DOMO opened at $31.84 on Thursday. The stock has a 50-day simple moving average of $41.45 and a 200 day simple moving average of $47.56. Domo has a 12 month low of $27.27 and a 12 month high of $98.35.

Domo (NASDAQ:DOMOGet Rating) last posted its earnings results on Thursday, May 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.17. The company had revenue of $74.50 million for the quarter, compared to analyst estimates of $74.10 million. Domo’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. On average, equities research analysts predict that Domo will post -3.16 EPS for the current year.

In other Domo news, major shareholder Joshua G. James sold 26,360 shares of Domo stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $49.61, for a total value of $1,307,719.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John M. Mellor sold 11,203 shares of Domo stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $49.90, for a total transaction of $559,029.70. The disclosure for this sale can be found here. Insiders have sold a total of 106,053 shares of company stock worth $5,441,410 in the last three months. 10.85% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in 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 buying an additional 740 shares during the last quarter. Penserra Capital Management LLC increased its holdings in 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 buying an additional 520 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in 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 buying an additional 835 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in Domo by 60.7% during the first quarter. Point72 Hong Kong Ltd now owns 4,188 shares of the company’s stock worth $212,000 after buying an additional 1,582 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of 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 purchasing an additional 778 shares during the last quarter. 72.40% of the stock is currently owned by institutional investors and hedge funds.

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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