Domo, Inc. (NASDAQ:DOMO) Sees Large Drop in Short Interest

Domo, Inc. (NASDAQ:DOMO) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 1,500,000 shares, a decrease of 10.2% from the January 15th total of 1,670,000 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 331,100 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

DOMO has been the subject of several research reports. Lake Street Capital upped their target price on Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a research note on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Domo in a research note on Friday, December 6th. TD Cowen upped their target price on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 29th. Finally, Cantor Fitzgerald initiated coverage on Domo in a research note on Tuesday, February 11th. They issued an “overweight” rating and a $11.00 target price for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.25.

Domo Trading Down 2.0 %

Shares of NASDAQ:DOMO traded down $0.18 during trading on Tuesday, reaching $8.87. 309,905 shares of the company traded hands, compared to its average volume of 332,044. The firm has a market capitalization of $346.91 million, a price-to-earnings ratio of -4.05 and a beta of 2.49. Domo has a 52-week low of $6.11 and a 52-week high of $11.87. The business’s fifty day moving average is $7.70 and its 200-day moving average is $7.86.

Domo (NASDAQ:DOMO) last released its quarterly earnings data on Thursday, December 5th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.27). The firm had revenue of $79.68 million during the quarter, compared to analysts’ expectations of $77.56 million. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Domo will post -2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Domo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Domo during the fourth quarter valued at approximately $47,000. R Squared Ltd bought a new position in Domo in the fourth quarter worth $56,000. Riggs Capital Management LLC bought a new position in Domo in the fourth quarter worth $85,000. SG Americas Securities LLC bought a new position in Domo in the third quarter worth $88,000. Finally, XTX Topco Ltd bought a new position in shares of Domo during the third quarter valued at $97,000. Institutional investors own 76.64% of the company’s stock.

Domo Company Profile

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.