Domo (NASDAQ:DOMO) Sees Strong Trading Volume

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Domo Inc (NASDAQ:DOMO) saw an uptick in trading volume on Monday . 912,354 shares were traded during trading, an increase of 23% from the previous session’s volume of 739,034 shares.The stock last traded at $19.67 and had previously closed at $18.80.

Several brokerages have recently weighed in on DOMO. Morgan Stanley set a $24.00 target price on Domo and gave the stock a “buy” rating in a report on Monday, September 9th. UBS Group cut their price target on Domo from $28.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Zacks Investment Research lowered Domo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Cowen dropped their target price on Domo from $52.00 to $28.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, ValuEngine downgraded Domo from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $25.71.

The company’s 50-day moving average is $17.00 and its 200-day moving average is $23.65. The firm has a market cap of $517.08 million, a price-to-earnings ratio of -2.06 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 4.56.

Domo (NASDAQ:DOMO) last released its earnings results on Thursday, September 5th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($1.23) by $0.27. Domo had a negative return on equity of 403.37% and a negative net margin of 81.35%. The firm had revenue of $41.70 million during the quarter, compared to analysts’ expectations of $41.68 million. During the same period in the prior year, the company earned ($3.44) earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. Equities research analysts forecast that Domo Inc will post -4.7 EPS for the current year.

In related news, CEO Joshua G. James bought 60,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $17.00 per share, with a total value of $1,020,000.00. 21.97% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Sylebra Capital Ltd grew its stake in shares of Domo by 5.6% in the third quarter. Sylebra Capital Ltd now owns 2,707,292 shares of the company’s stock worth $43,263,000 after acquiring an additional 144,603 shares during the period. First Trust Advisors LP lifted its holdings in Domo by 20.5% during the third quarter. First Trust Advisors LP now owns 1,314,260 shares of the company’s stock valued at $21,002,000 after purchasing an additional 223,827 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Domo by 22.1% in the second quarter. Vanguard Group Inc. now owns 941,545 shares of the company’s stock valued at $25,722,000 after purchasing an additional 170,519 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in Domo in the second quarter valued at approximately $5,497,000. Finally, Northern Trust Corp increased its holdings in shares of Domo by 2.5% during the 2nd quarter. Northern Trust Corp now owns 190,157 shares of the company’s stock worth $5,196,000 after buying an additional 4,639 shares during the last quarter. Hedge funds and other institutional investors own 64.32% of the company’s stock.

About Domo (NASDAQ:DOMO)

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects 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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