Short Interest in Domo, Inc. (NASDAQ:DOMO) Rises By 6.0%

Domo, Inc. (NASDAQ:DOMO) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,290,000 shares, an increase of 6.0% from the August 31st total of 2,160,000 shares. Approximately 7.3% of the company’s stock are sold short. Based on an average daily trading volume, of 356,400 shares, the short-interest ratio is currently 6.4 days.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Domo from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. DA Davidson boosted their target price on 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 reaffirmed a “market outperform” rating and set a $16.00 price target on shares of Domo in a research report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Domo currently has an average rating of “Hold” and a consensus target price of $9.60.

Domo Stock Performance

DOMO stock traded down $0.34 during mid-day trading on Tuesday, hitting $7.17. The company had a trading volume of 149,375 shares, compared to its average volume of 394,849. The firm has a market cap of $273.71 million, a PE ratio of -3.58 and a beta of 2.44. Domo has a 12 month low of $6.11 and a 12 month high of $12.23. The stock’s fifty day moving average price is $7.62 and its two-hundred day moving average price is $7.68.

Domo (NASDAQ:DOMO) last released 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 during the quarter, compared to analysts’ expectations of $76.60 million. During the same period in the prior year, the business earned ($0.44) earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Domo will post -2.31 earnings per share for the current year.

Insiders Place Their Bets

In other Domo news, CFO David R. Jolley acquired 10,000 shares of Domo stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $6.99 per share, for a total transaction 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 $2,037,340.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.04% of the company’s stock.

Institutional Trading of Domo

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Domo in the first quarter worth $43,000. EntryPoint Capital LLC purchased a new position in Domo in the 1st quarter worth approximately $45,000. Harbor Capital Advisors Inc. lifted its position in Domo by 51.1% in the second quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock valued at $48,000 after purchasing an additional 2,100 shares during the last quarter. Rockwood Wealth Management LLC bought a new position in shares of Domo in the second quarter worth approximately $104,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Domo in the first quarter worth $121,000. 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.