Domo (NASDAQ:DOMO) Issues Earnings Results, Hits Expectations

Domo (NASDAQ:DOMO – Get Rating) released its quarterly earnings results on Thursday. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17), Yahoo Finance reports. The firm had revenue of $79.46 million during the quarter, compared to analyst estimates of $78.87 million. Domo’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.99) earnings per share. Domo updated its Q2 guidance to $(0.11)-$(0.07) EPS and its FY24 guidance to $(0.39)-$(0.27) EPS.

Domo Price Performance

Shares of DOMO stock traded down $0.05 during trading hours on Thursday, reaching $14.83. 480,412 shares of the company were exchanged, compared to its average volume of 649,917. Domo has a fifty-two week low of $11.35 and a fifty-two week high of $35.43. The stock’s fifty day moving average is $14.35 and its two-hundred day moving average is $14.42. The company has a market cap of $516.68 million, a price-to-earnings ratio of -4.89 and a beta of 2.16.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOMO. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Domo in a research report on Monday, March 13th. Lake Street Capital reduced their price target on shares of Domo from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Insider Transactions at Domo

In other news, EVP Daren Thayne sold 5,886 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $12.24, for a total transaction of $72,044.64. Following the transaction, the executive vice president now directly owns 197,415 shares in the company, valued at $2,416,359.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Daren Thayne sold 5,886 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $12.24, for a total transaction of $72,044.64. Following the transaction, the executive vice president now directly owns 197,415 shares in the company, valued at $2,416,359.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joshua G. James purchased 350,026 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The shares were acquired at an average cost of $14.18 per share, with a total value of $4,963,368.68. Following the completion of the purchase, the chief executive officer now owns 429,810 shares of the company’s stock, valued at $6,094,705.80. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 554,810 shares of company stock worth $7,814,329. Corporate insiders own 10.85% of the company’s stock.

Institutional Investors Weigh In On Domo

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC raised its stake in shares of Domo by 90.1% during the first quarter. Lazard Asset Management LLC now owns 1,561 shares of the company’s stock worth $78,000 after buying an additional 740 shares during the last quarter. Cim Investment Management Inc. increased its stake in Domo by 3.6% in the first quarter. Cim Investment Management Inc. now owns 21,453 shares of the company’s stock valued at $304,000 after purchasing an additional 743 shares in the last quarter. Boothbay Fund Management LLC increased its stake in Domo by 6.7% in the fourth quarter. Boothbay Fund Management LLC now owns 12,436 shares of the company’s stock valued at $177,000 after purchasing an additional 786 shares in the last quarter. Royal Bank of Canada increased its stake in Domo by 15.5% in the third quarter. Royal Bank of Canada now owns 5,975 shares of the company’s stock valued at $107,000 after purchasing an additional 802 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Domo by 29.9% in the first quarter. Advisor Group Holdings Inc. now owns 3,625 shares of the company’s stock valued at $203,000 after purchasing an additional 835 shares in the last quarter. 71.40% of the stock is owned by institutional investors.

About Domo

(Get Rating)

Domo, Inc designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. The company was founded by Joshua G. James in September 2010 and is headquartered in American Fork, UT.