Domo (NASDAQ:DOMO) Releases 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.

Shares of DOMO opened at $32.32 on Thursday. The firm has a market cap of $1.07 billion, a P/E ratio of -9.03 and a beta of 2.68. Domo has a twelve month low of $27.27 and a twelve month high of $98.35. The firm’s 50 day moving average price is $39.80 and its two-hundred day moving average price is $45.70.

Domo (NASDAQ:DOMOGet Rating) last posted its quarterly earnings data on Thursday, May 26th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.17. The company had revenue of $74.50 million during the quarter, compared to the consensus estimate of $74.10 million. The company’s revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.58) earnings per share. As a group, research analysts forecast that Domo will post -4.21 EPS for the current year.

DOMO has been the subject of several research reports. Morgan Stanley cut their price target on Domo from $90.00 to $74.00 and set an overweight rating for the company in a report on Thursday, May 19th. Cowen lowered their price objective on Domo from $85.00 to $70.00 in a research note on Monday, May 23rd. JMP Securities lowered their target price on Domo from $88.00 to $59.00 in a research note on Friday, May 27th. Zacks Investment Research downgraded shares of Domo from a hold rating to a sell rating in a research note on Friday, June 3rd. Finally, Cowen dropped their price objective on shares of Domo from $85.00 to $70.00 in a research note on Monday, May 23rd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $76.60.

In other news, CFO Bruce C. Jr. Felt sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $48.52, for a total transaction of $970,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Catherine Wong sold 3,750 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $46.89, for a total transaction of $175,837.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,053 shares of company stock valued at $5,441,410. Corporate insiders own 10.85% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew 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 valued at $78,000 after purchasing an additional 740 shares during the period. Penserra Capital Management LLC increased its holdings in Domo by 44.7% during the 4th quarter. Penserra Capital Management LLC now owns 1,684 shares of the company’s stock worth $83,000 after acquiring an additional 520 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Domo by 29.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,625 shares of the company’s stock valued at $203,000 after purchasing an additional 835 shares in the last quarter. Point72 Hong Kong Ltd raised its position in shares of Domo by 60.7% in 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 in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Domo by 16.3% during the fourth quarter. Mackenzie Financial Corp now owns 5,561 shares of the company’s stock valued at $276,000 after buying an additional 778 shares during the period. Institutional investors and hedge funds own 72.40% of the company’s stock.

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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