Domo (NASDAQ:DOMO) Releases Q2 2023 Earnings Guidance

Domo (NASDAQ:DOMOGet Rating) updated its second quarter 2023 earnings guidance on Thursday. The company provided EPS guidance of -$0.35–$0.31 for the period, compared to the consensus EPS estimate of -$0.36. The company issued revenue guidance of $76.00 million-$77.00 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 analysts recently commented on the stock. Morgan Stanley decreased their price target 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. Cowen reduced their price objective on shares of Domo from $85.00 to $70.00 in a research note on Monday, May 23rd. Cowen reduced their price objective on shares of Domo from $85.00 to $70.00 in a research note on Monday, May 23rd. Finally, JMP Securities reduced their price target on shares of Domo from $88.00 to $59.00 in a research note on Friday, May 27th.

Shares of NASDAQ DOMO opened at $27.33 on Thursday. The company has a 50 day simple moving average of $34.76 and a 200 day simple moving average of $42.71. The firm has a market cap of $901.62 million, a PE ratio of -7.63 and a beta of 2.68. Domo has a 1 year low of $23.01 and a 1 year high of $98.35.

Domo (NASDAQ:DOMOGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.58) EPS. Analysts predict that Domo will post -4.21 EPS for the current year.

In other news, COO Catherine Wong sold 36,000 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $55.24, for a total value of $1,988,640.00. Following the sale, the chief operating officer now directly owns 160,638 shares of the company’s stock, valued at $8,873,643.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joy Driscoll Durling sold 1,940 shares of the stock in a transaction on 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 sale, the director now directly owns 19,609 shares in the company, valued at $1,013,393.12. The disclosure for this sale can be found here. 10.85% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of DOMO. Advisor Group Holdings Inc. raised its stake in shares of Domo by 29.9% in the first quarter. Advisor Group Holdings Inc. now owns 3,625 shares of the company’s stock worth $203,000 after buying an additional 835 shares during the period. JPMorgan Chase & Co. raised its stake in Domo by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 121,542 shares of the company’s stock valued at $6,146,000 after purchasing an additional 33,845 shares during the period. Bank of New York Mellon Corp increased its stake in Domo by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 417,040 shares of the company’s stock worth $21,089,000 after acquiring an additional 6,149 shares during the last quarter. MetLife Investment Management LLC increased its stake in Domo by 54.4% in the 1st quarter. MetLife Investment Management LLC now owns 15,153 shares of the company’s stock worth $766,000 after acquiring an additional 5,339 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Domo by 2.9% in the 1st 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 period. 72.40% of the stock is currently owned by hedge funds and other institutional investors.

About Domo (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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