Domo (NASDAQ:DOMO) Cut to Hold at Lake Street Capital

Lake Street Capital downgraded shares of Domo (NASDAQ:DOMO) from a buy rating to a hold rating in a research note published on Friday, Marketbeat Ratings reports. They currently have $8.00 target price on the stock, down from their previous target price of $15.00.

A number of other brokerages have also recently commented on DOMO. DA Davidson reissued a neutral rating and issued a $10.00 price objective on shares of Domo in a research note on Thursday, March 28th. TD Cowen lowered their price target on shares of Domo from $11.50 to $10.00 and set a hold rating on the stock in a research report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $10.20.

Domo Trading Down 2.2 %

DOMO stock opened at $6.97 on Friday. The firm has a 50 day moving average of $8.09 and a 200-day moving average of $9.43. The company has a market cap of $265.07 million, a price-to-earnings ratio of -3.32 and a beta of 2.35. Domo has a 12-month low of $6.11 and a 12-month high of $18.19.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.05). The company had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $79.46 million. Sell-side analysts forecast that Domo will post -2 earnings per share for the current fiscal year.

Insider Activity at Domo

In other Domo news, CFO David R. Jolley sold 12,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $8.50, for a total transaction of $102,000.00. Following the sale, the chief financial officer now directly owns 215,543 shares of the company’s stock, valued at approximately $1,832,115.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Domo news, CEO Joshua G. James sold 107,000 shares of Domo stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $9.38, for a total value of $1,003,660.00. Following the completion of the sale, the chief executive officer now directly owns 881,765 shares of the company’s stock, valued at approximately $8,270,955.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David R. Jolley sold 12,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $8.50, for a total value of $102,000.00. Following the completion of the transaction, the chief financial officer now owns 215,543 shares of the company’s stock, valued at $1,832,115.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,056 shares of company stock valued at $1,911,367. 14.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Domo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in Domo by 161.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $27,000 after buying an additional 1,622 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Domo during the 1st quarter worth about $43,000. EntryPoint Capital LLC acquired a new stake in shares of Domo in the first quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Domo by 58.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock valued at $61,000 after purchasing an additional 2,212 shares during the period. Finally, Oak Thistle LLC purchased a new stake in Domo in the fourth quarter valued at approximately $107,000. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.