Domo (DOMO) Trading Down 6.1%

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Shares of Domo Inc (NASDAQ:DOMO) traded down 6.1% during trading on Tuesday . The company traded as low as $21.83 and last traded at $22.08. 619,105 shares were traded during mid-day trading, an increase of 16% from the average session volume of 534,951 shares. The stock had previously closed at $23.51.

A number of analysts have recently commented on the company. UBS Group assumed coverage on Domo in a research note on Tuesday, July 24th. They issued a “neutral” rating and a $20.00 target price on the stock. JMP Securities assumed coverage on Domo in a research note on Tuesday, July 24th. They issued an “outperform” rating and a $30.00 target price on the stock. Susquehanna Bancshares assumed coverage on Domo in a research note on Friday, July 13th. They issued a “positive” rating and a $24.00 target price on the stock. Cowen assumed coverage on Domo in a research note on Tuesday, July 24th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Credit Suisse Group assumed coverage on Domo in a research note on Tuesday, July 24th. They issued an “outperform” rating and a $25.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $25.67.

In other Domo news, CFO Bruce C. Jr. Felt purchased 3,500 shares of the stock in a transaction on Tuesday, July 3rd. The shares were bought at an average price of $21.00 per share, for a total transaction of $73,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joshua G. James purchased 101,700 shares of the stock in a transaction on Tuesday, July 3rd. The shares were acquired at an average price of $21.00 per share, for a total transaction of $2,135,700.00. The disclosure for this purchase can be found here.

A number of hedge funds have recently modified their holdings of DOMO. Legal & General Group Plc purchased a new position in Domo during the second quarter worth approximately $250,000. Crosslink Capital Inc. purchased a new position in Domo during the second quarter worth approximately $273,000. Bank of New York Mellon Corp purchased a new position in Domo during the second quarter worth approximately $389,000. Engle Capital Management L.P. purchased a new position in Domo during the second quarter worth approximately $928,000. Finally, GSA Capital Partners LLP purchased a new position in Domo during the second quarter worth approximately $1,029,000. Institutional investors own 53.60% of the company’s stock.

Domo Company Profile (NASDAQ:DOMO)

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects 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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