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

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

Insider Transactions at Domo

In other news, CFO David R. Jolley purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $6.99 per share, with a total value of $69,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 291,465 shares of the company’s stock, valued at approximately $2,037,340.35. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 14.04% of the company’s stock.

Hedge Funds Weigh In On Domo

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Domo by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 4,826,254 shares of the company’s stock valued at $43,050,000 after purchasing an additional 108,200 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Domo by 32.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,301,495 shares of the company’s stock valued at $10,042,000 after purchasing an additional 317,388 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Domo by 0.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 628,503 shares of the company’s stock valued at $5,606,000 after purchasing an additional 2,501 shares during the last quarter. 272 Capital LP boosted its holdings in shares of Domo by 52.1% in the 2nd quarter. 272 Capital LP now owns 416,464 shares of the company’s stock valued at $3,215,000 after purchasing an additional 142,609 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in shares of Domo by 42.1% in the 1st quarter. Invenomic Capital Management LP now owns 316,964 shares of the company’s stock valued at $2,827,000 after purchasing an additional 93,858 shares during the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Domo from $8.00 to $9.00 and gave the company a “hold” rating in a report on Friday, August 30th. DA Davidson raised their price objective on shares of Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.60.

Domo Stock Performance

NASDAQ DOMO traded down $0.21 during mid-day trading on Thursday, reaching $8.08. 79,551 shares of the stock were exchanged, compared to its average volume of 384,913. Domo has a 1-year low of $6.11 and a 1-year high of $12.23. The business’s fifty day simple moving average is $7.48 and its 200 day simple moving average is $7.47. The stock has a market capitalization of $308.45 million, a PE ratio of -3.81 and a beta of 2.45.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, August 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $78.41 million for the quarter, compared to analyst estimates of $76.60 million. During the same quarter last year, the business posted ($0.44) EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Domo will post -2.31 EPS for the current year.

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.