Domo (NASDAQ:DOMO) Stock Rating Lowered by Wall Street Zen

Domo (NASDAQ:DOMO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Citigroup reissued a “market underperform” rating on shares of Domo in a research report on Monday, August 17th. Citizens Jmp reaffirmed a “market underperform” rating and set a $2.25 price target on shares of Domo in a research report on Monday, August 17th. Stephens lowered shares of Domo from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $5.00 to $4.00 in a research report on Thursday, July 23rd. DA Davidson reiterated a “neutral” rating and issued a $3.50 price objective on shares of Domo in a research note on Tuesday, June 16th. Finally, TD Cowen downgraded shares of Domo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $6.00 to $3.25 in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Domo presently has a consensus rating of “Reduce” and a consensus target price of $3.95.

Domo Stock Performance

Shares of DOMO opened at $3.83 on Friday. The firm has a fifty day simple moving average of $3.71 and a two-hundred day simple moving average of $3.56. The firm has a market cap of $172.92 million, a PE ratio of -2.88 and a beta of 1.76. Domo has a 1-year low of $1.84 and a 1-year high of $18.49.

Domo (NASDAQ:DOMO) last released its quarterly earnings results on Thursday, September 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter. The firm had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $78.06 million. As a group, research analysts forecast that Domo will post -1.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Domo news, CEO Joshua James sold 96,088 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction 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. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daren Thayne sold 52,365 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the completion of the sale, the executive vice president owned 498,051 shares of the company’s stock, valued at approximately $1,185,361.38. The trade was a 9.51% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 216,936 shares of company stock valued at $516,308. 13.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DOMO. Brevan Howard Capital Management LP raised its position in shares of Domo by 3.9% during the 3rd quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company’s stock valued at $804,000 after purchasing an additional 1,924 shares during the period. Verition Fund Management LLC lifted its stake in shares of Domo by 8.1% during the 4th quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock valued at $302,000 after buying an additional 2,679 shares in the last quarter. Creative Planning boosted its holdings in Domo by 23.2% in the 2nd quarter. Creative Planning now owns 15,362 shares of the company’s stock worth $215,000 after buying an additional 2,889 shares during the period. Headlands Technologies LLC bought a new position in Domo in the 2nd quarter worth $42,000. Finally, Rhumbline Advisers increased its stake in Domo by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 54,308 shares of the company’s stock worth $759,000 after buying an additional 4,751 shares in the last quarter. 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.