Domo (NASDAQ:DOMO) Trading Up 10%

Domo, Inc. (NASDAQ:DOMOGet Rating)’s stock price was up 10% on Thursday . The stock traded as high as $30.05 and last traded at $30.05. Approximately 12,521 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 440,588 shares. The stock had previously closed at $27.33.

Several analysts recently weighed in on DOMO shares. Cowen cut their price objective on shares of Domo from $85.00 to $70.00 in a research report on Monday, May 23rd. Cowen cut their price objective on shares of Domo from $85.00 to $70.00 in a research report on Monday, May 23rd. JMP Securities lowered their target price on shares of Domo from $88.00 to $59.00 in a research note on Friday, May 27th. Finally, Morgan Stanley lowered their target price on shares of Domo from $90.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th.

The company’s 50 day simple moving average is $34.76 and its 200 day simple moving average is $42.71. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -8.30 and a beta of 2.68.

Domo (NASDAQ:DOMOGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.17. The business had revenue of $74.50 million during the quarter, compared to analyst estimates of $74.10 million. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.58) EPS. As a group, analysts expect that Domo, Inc. will post -4.21 EPS for the current fiscal year.

In other Domo news, COO Catherine Wong sold 36,000 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $55.24, for a total value of $1,988,640.00. Following the completion of the transaction, the chief operating officer now directly owns 160,638 shares in the company, valued at $8,873,643.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joy Driscoll Durling sold 1,940 shares of the firm’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $51.68, for a total transaction of $100,259.20. Following the completion of the transaction, the director now owns 19,609 shares of the company’s stock, valued at $1,013,393.12. The disclosure for this sale can be found here. Insiders own 10.85% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Washington Harbour Partners LP boosted its holdings in shares of Domo by 670.4% during the first quarter. Washington Harbour Partners LP now owns 578,583 shares of the company’s stock worth $29,259,000 after purchasing an additional 503,483 shares during the period. Weiss Multi Strategy Advisers LLC lifted its stake in Domo by 4.0% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 234,825 shares of the company’s stock valued at $11,875,000 after acquiring an additional 8,953 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in Domo by 60.7% in the first quarter. Point72 Hong Kong Ltd now owns 4,188 shares of the company’s stock valued at $212,000 after acquiring an additional 1,582 shares during the last quarter. Portolan Capital Management LLC lifted its stake in Domo by 58.6% in the first quarter. Portolan Capital Management LLC now owns 743,725 shares of the company’s stock valued at $37,610,000 after acquiring an additional 274,904 shares during the last quarter. Finally, Dorsal Capital Management LLC lifted its stake in Domo by 21.4% in the first quarter. Dorsal Capital Management LLC now owns 850,000 shares of the company’s stock valued at $42,985,000 after acquiring an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 72.40% of the company’s stock.

About Domo (NASDAQ:DOMO)

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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