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

Domo, Inc. (NASDAQ:DOMO) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 2,630,000 shares, a decline of 6.1% from the September 30th total of 2,800,000 shares. Approximately 8.4% of the shares of the stock are short sold. Based on an average daily volume of 348,100 shares, the short-interest ratio is presently 7.6 days.

Insider Transactions at Domo

In related news, CFO David R. Jolley bought 10,000 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $6.99 per share, for a total transaction of $69,900.00. Following the acquisition, the chief financial officer now directly owns 291,465 shares in the company, valued at approximately $2,037,340.35. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.04% of the company’s stock.

Institutional Trading of Domo

A number of large investors have recently modified their holdings of DOMO. Acadian Asset Management LLC increased its position in shares of Domo by 32.3% during the second quarter. Acadian Asset Management LLC now owns 1,301,495 shares of the company’s stock worth $10,042,000 after acquiring an additional 317,388 shares during the period. 272 Capital LP increased its holdings in Domo by 52.1% in the second quarter. 272 Capital LP now owns 416,464 shares of the company’s stock valued at $3,215,000 after buying an additional 142,609 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Domo by 192.5% in the first quarter. GSA Capital Partners LLP now owns 193,106 shares of the company’s stock valued at $1,723,000 after buying an additional 127,091 shares during the last quarter. Vanguard Group Inc. increased its holdings in Domo by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,826,254 shares of the company’s stock valued at $43,050,000 after buying an additional 108,200 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Domo by 42.1% in the first quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock valued at $2,827,000 after buying an additional 93,858 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Domo Stock Down 2.5 %

NASDAQ DOMO traded down $0.21 on Thursday, reaching $8.08. The stock had a trading volume of 79,551 shares, compared to its average volume of 384,913. The firm has a market capitalization of $308.45 million, a price-to-earnings ratio of -3.81 and a beta of 2.45. Domo has a 12-month low of $6.11 and a 12-month high of $12.23. The stock has a fifty day moving average price of $7.48 and a two-hundred day moving average price of $7.47.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, August 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $78.41 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same period in the previous year, the firm earned ($0.44) EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that Domo will post -2.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DOMO shares. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a report on Friday, August 30th. DA Davidson upped their price objective on Domo from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, TD Cowen boosted their target price on Domo from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.60.

About Domo

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.