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

Domo, Inc. (NASDAQ:DOMO) was the target of a significant decline in short interest in 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 company are sold short.

Domo Trading Down 2.0 %

DOMO stock traded down $0.15 during 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 firm has a market cap of $282.36 million, a PE ratio of -3.30 and a beta of 2.44. The stock’s 50 day moving average is $8.32 and its two-hundred day moving average is $7.80. Domo has a 52 week low of $6.11 and a 52 week high of $12.23.

Domo (NASDAQ:DOMO) last posted its quarterly earnings results 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 business had revenue of $79.68 million for the quarter, compared to analyst estimates of $77.56 million. Domo’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts anticipate that Domo will post -2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DOMO shares. TD Cowen increased 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. Lake Street Capital increased their price target on shares of Domo from $8.00 to $9.50 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Domo in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Domo currently has a consensus rating of “Hold” and a consensus target price of $10.10.

Hedge Funds Weigh In On Domo

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Domo by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock worth $308,000 after acquiring an additional 2,091 shares during the period. Geode Capital Management LLC boosted its holdings in Domo by 0.5% in the third quarter. Geode Capital Management LLC now owns 759,353 shares of the company’s stock worth $5,704,000 after acquiring an additional 4,091 shares in the last quarter. Centiva Capital LP grew its position in Domo by 38.1% during the 3rd quarter. Centiva Capital LP now owns 24,749 shares of the company’s stock worth $186,000 after purchasing an additional 6,828 shares during the last quarter. Sei Investments Co. increased its position in shares of Domo by 7.5% in the 2nd quarter. Sei Investments Co. now owns 103,809 shares of the company’s stock valued at $801,000 after acquiring an additional 7,222 shares during the period. Finally, Quest Partners LLC raised its stake in shares of Domo by 291.9% in the third 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. Hedge funds and other institutional investors own 76.64% of the company’s stock.

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.