Short Interest in Domo, Inc. (NASDAQ:DOMO) Drops By 11.1%

Domo, Inc. (NASDAQ:DOMO) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,520,000 shares, a decline of 11.1% from the November 30th total of 1,710,000 shares. Based on an average trading volume of 314,400 shares, the short-interest ratio is currently 4.8 days. Currently, 4.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

DOMO has been the subject of a number of recent research reports. TD Cowen raised 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. Lake Street Capital raised their target price on Domo from $8.00 to $9.50 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Domo in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.10.

Domo Trading Down 2.0 %

Shares of DOMO stock traded down $0.15 during mid-day trading on Monday, reaching $7.22. The stock had a trading volume of 251,633 shares, compared to its average volume of 375,283. The company has a market cap of $282.36 million, a P/E ratio of -3.30 and a beta of 2.44. The business has a 50-day simple moving average of $8.32 and a 200 day simple moving average of $7.80. Domo has a 12-month low of $6.11 and a 12-month high of $12.23.

Domo (NASDAQ:DOMO) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.27). The firm had revenue of $79.68 million for the quarter, compared to the consensus estimate of $77.56 million. Domo’s revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Domo will post -2.1 EPS for the current year.

Institutional Investors Weigh In On Domo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Domo during the 3rd quarter valued at $88,000. XTX Topco Ltd acquired a new position in shares of Domo during the third quarter valued at $97,000. Quest Partners LLC grew its position in Domo by 291.9% in the 3rd quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock worth $103,000 after purchasing an additional 10,204 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Domo during the third quarter valued at approximately $161,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Domo in the 3rd quarter worth $181,000. Hedge funds and other 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.