Domo (NASDAQ:DOMO) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Domo (NASDAQ:DOMO) issued its quarterly earnings results on Tuesday. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.06, FiscalAI reports. The company had revenue of $79.63 million for the quarter, compared to analyst estimates of $78.65 million.

Domo Trading Up 2.6%

NASDAQ:DOMO traded up $0.11 on Tuesday, hitting $4.38. The company’s stock had a trading volume of 2,431,274 shares, compared to its average volume of 1,287,263. The stock has a fifty day moving average of $5.68 and a two-hundred day moving average of $10.47. The firm has a market capitalization of $183.08 million, a P/E ratio of -2.56 and a beta of 1.70. Domo has a one year low of $3.45 and a one year high of $18.49.

Analysts Set New Price Targets

Several research firms have weighed in on DOMO. DA Davidson set a $10.00 price target on Domo in a research report on Friday, December 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Domo in a research note on Wednesday, January 21st. Citigroup downgraded shares of Domo from an “outperform” rating to an “underperform” rating in a report on Friday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $22.00 price target on shares of Domo in a research report on Wednesday, December 24th. Finally, Wall Street Zen cut shares of Domo from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Domo currently has an average rating of “Hold” and an average price target of $12.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP bought a new position in Domo during the 2nd quarter worth $327,000. AQR Capital Management LLC boosted its position in shares of Domo by 17.5% in the first quarter. AQR Capital Management LLC now owns 40,231 shares of the company’s stock valued at $312,000 after acquiring an additional 5,985 shares during the period. Verition Fund Management LLC grew its stake in shares of Domo by 8.1% in the fourth quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock valued at $302,000 after acquiring an additional 2,679 shares in the last quarter. Man Group plc acquired a new position in shares of Domo in the fourth quarter valued at about $286,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Domo during the fourth quarter worth about $248,000. 76.64% of the stock is currently owned by institutional investors.

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.