Domo (NASDAQ:DOMO) Cut to “Equal Weight” at Stephens

Stephens cut shares of Domo (NASDAQ:DOMO) from an overweight rating to an equal weight rating in a research report released on Thursday, Marketbeat.com reports. Stephens currently has $4.00 price objective on the stock, down from their previous price objective of $5.00.

Other equities analysts have also issued research reports about the stock. Weiss Ratings raised shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Wall Street Zen lowered Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Citizens Jmp lowered their price target on Domo from $3.50 to $2.25 and set a “market underperform” rating for the company in a report on Tuesday, June 16th. UBS Group reaffirmed a “neutral” rating on shares of Domo in a research report on Tuesday, June 16th. Finally, TD Cowen cut Domo from a “buy” rating to a “hold” rating and cut their price objective for the company from $6.00 to $3.25 in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Domo currently has an average rating of “Reduce” and an average price target of $3.95.

Domo Stock Performance

Shares of NASDAQ DOMO opened at $3.68 on Thursday. Domo has a 52-week low of $1.84 and a 52-week high of $18.49. The stock has a market cap of $166.15 million, a P/E ratio of -2.77 and a beta of 1.79. The firm has a 50 day moving average price of $3.33 and a 200 day moving average price of $4.07.

Insider Transactions at Domo

In other Domo news, CEO Joshua G. James sold 96,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $228,689.44. Following the sale, the chief executive officer owned 1,638,873 shares in the company, valued at approximately $3,900,517.74. The trade was a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Tod Crane sold 68,483 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $162,989.54. Following the transaction, the chief financial officer directly owned 276,809 shares of the company’s stock, valued at approximately $658,805.42. This trade represents a 19.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 466,662 shares of company stock valued at $1,483,488 in the last ninety days. Corporate insiders own 13.25% of the company’s stock.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in shares of Domo in the second quarter worth $42,000. Rangeley Capital LLC bought a new position in Domo in the first quarter valued at $80,000. Andina Capital Management LLC acquired a new stake in Domo in the 4th quarter valued at $84,000. Oxford Asset Management LLP acquired a new stake in Domo in the 4th quarter valued at $88,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Domo in the 4th quarter valued at $88,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Domo

Here are the key news stories impacting Domo this week:

• Positive Sentiment: Domo agreed to sell substantially all of its AI and data business to Progress Software for $400 million, a deal that sparked a sharp after-hours rally as investors reassessed the company’s value. Domo Announces Agreement to Sell Substantially All Assets and Certain Liabilities to Progress Software for $400 Million
• Positive Sentiment: Unusual options activity showed a surge in call buying, suggesting traders were positioning for more upside ahead of or following the deal news. Why Is Domo (DOMO) Stock Rallying Over 23% After Hours Today?
• Positive Sentiment: Lake Street Capital upgraded Domo to buy and set a $5 price target, indicating additional upside from current levels despite trimming its valuation outlook. Lake Street Capital upgrade coverage
• Neutral Sentiment: Reports noted that Domo will keep its current leadership and operate as a separate entity after the transaction, leaving some uncertainty about the company’s long-term standalone strategy. Domo sells its main businesses for $400 million, leaving founder Josh James with a hoard of cash to put to work
• Negative Sentiment: Stephens downgraded Domo to equal weight and reduced its price target to $4, reflecting caution about the company’s prospects after the divestiture. Stephens downgrade coverage
• Negative Sentiment: Some analysts and commentary suggested the remaining public company may have limited prospects after shedding its core business, which could weigh on the stock over time. Domo: Sell On Limited Prospects For The Public Shell After Core Business Divestiture

Domo Company Profile

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.