Domo (NASDAQ:DOMO) Issues Q2 Earnings Guidance

Domo (NASDAQ:DOMOGet Rating) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $(0.35)-$(0.31) for the period, compared to the consensus EPS estimate of ($0.37). The company issued revenue guidance of $76-$77 million, compared to the consensus revenue estimate of $76.56 million.Domo also updated its FY 2023 guidance to -$1.34–$1.26 EPS.

Several equities research analysts have commented on the company. JMP Securities lowered their price objective on Domo from $88.00 to $59.00 in a research report on Friday. Cowen decreased their target price on Domo from $85.00 to $70.00 in a research report on Monday. Cowen decreased their target price on Domo from $85.00 to $70.00 in a research report on Monday. Morgan Stanley decreased their target price on Domo from $90.00 to $74.00 and set an overweight rating on the stock in a research report on Thursday, May 19th. Finally, Zacks Investment Research upgraded Domo from a sell rating to a hold rating in a research report on Friday, April 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $76.60.

Shares of NASDAQ:DOMO traded up $4.15 during midday trading on Friday, reaching $34.29. 805,613 shares of the company’s stock were exchanged, compared to its average volume of 382,979. The firm’s 50 day simple moving average is $42.69 and its two-hundred day simple moving average is $49.06. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -10.70 and a beta of 2.66. Domo has a fifty-two week low of $27.27 and a fifty-two week high of $98.35.

Domo (NASDAQ:DOMOGet Rating) last announced its earnings results on Thursday, May 26th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.17. The firm had revenue of $74.50 million for the quarter, compared to analysts’ expectations of $74.10 million. During the same quarter last year, the business earned ($0.58) earnings per share. The business’s revenue was up 24.0% compared to the same quarter last year. On average, analysts expect that Domo will post -3.16 EPS for the current year.

In other news, Director Joy Driscoll Durling sold 1,940 shares of Domo stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $51.68, for a total value of $100,259.20. Following the completion of the transaction, the director now owns 19,609 shares in the company, valued at approximately $1,013,393.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Catherine Wong sold 3,750 shares of Domo stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $46.89, for a total value of $175,837.50. The disclosure for this sale can be found here. Insiders have sold a total of 106,053 shares of company stock valued at $5,441,410 over the last 90 days. 14.35% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Domo by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,224,960 shares of the company’s stock worth $112,516,000 after purchasing an additional 87,504 shares during the last quarter. BlackRock Inc. lifted its stake in Domo by 2.9% during the first quarter. BlackRock Inc. now owns 2,102,727 shares of the company’s stock worth $106,337,000 after purchasing an additional 60,090 shares during the last quarter. First Trust Advisors LP lifted its stake in Domo by 24.2% during the first quarter. First Trust Advisors LP now owns 1,419,328 shares of the company’s stock worth $71,775,000 after purchasing an additional 276,217 shares during the last quarter. Morgan Stanley lifted its stake in Domo by 21.7% during the second quarter. Morgan Stanley now owns 842,151 shares of the company’s stock worth $68,071,000 after purchasing an additional 149,976 shares during the last quarter. Finally, State Street Corp lifted its stake in Domo by 1.1% during the first quarter. State Street Corp now owns 640,407 shares of the company’s stock worth $32,385,000 after purchasing an additional 6,884 shares during the last quarter. Hedge funds and other institutional investors own 72.40% of the company’s stock.

Domo Company Profile (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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