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

Domo, Inc. (NASDAQ:DOMO) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,500,000 shares, a drop of 10.2% from the January 15th total of 1,670,000 shares. Based on an average daily trading volume, of 331,100 shares, the short-interest ratio is presently 4.5 days. Approximately 4.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DOMO. Bank of New York Mellon Corp raised its stake in Domo by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company’s stock valued at $622,000 after purchasing an additional 1,826 shares during the period. BNP Paribas Financial Markets raised its stake in Domo by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock valued at $308,000 after purchasing an additional 2,091 shares during the period. SG Americas Securities LLC raised its stake in Domo by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock valued at $99,000 after purchasing an additional 2,247 shares during the period. Barclays PLC raised its stake in Domo by 3.7% during the 4th quarter. Barclays PLC now owns 82,573 shares of the company’s stock valued at $584,000 after purchasing an additional 2,962 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Domo by 29.2% during the 4th quarter. Wells Fargo & Company MN now owns 17,696 shares of the company’s stock valued at $125,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 76.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on DOMO. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research report on Friday, December 6th. Lake Street Capital raised their target price on Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a research report on Friday, December 6th. TD Cowen raised their target price on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 29th. Finally, Cantor Fitzgerald started coverage on Domo in a research report on Tuesday, February 11th. They issued an “overweight” rating and a $11.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.25.

Domo Stock Performance

Shares of NASDAQ DOMO traded down $0.18 during trading on Tuesday, hitting $8.87. The company had a trading volume of 309,905 shares, compared to its average volume of 332,044. The stock has a 50 day simple moving average of $7.70 and a 200 day simple moving average of $7.86. Domo has a 12 month low of $6.11 and a 12 month high of $11.87. The firm has a market capitalization of $346.91 million, a P/E ratio of -4.05 and a beta of 2.49.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Thursday, December 5th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 business’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts predict that Domo will post -2.1 EPS for the current year.

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.