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

Domo Inc (NASDAQ:DOMO) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,490,000 shares, a decline of 12.5% from the September 30th total of 3,990,000 shares. Approximately 18.6% of the company’s stock are sold short. Based on an average daily volume of 802,800 shares, the days-to-cover ratio is presently 4.3 days.

In other Domo news, CEO Joshua G. James acquired 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $1,020,000.00. 21.97% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in shares of Domo by 20.5% during the 3rd quarter. First Trust Advisors LP now owns 1,314,260 shares of the company’s stock worth $21,002,000 after purchasing an additional 223,827 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Domo by 22.1% during the 2nd quarter. Vanguard Group Inc. now owns 941,545 shares of the company’s stock worth $25,722,000 after purchasing an additional 170,519 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Domo during the 2nd quarter worth $5,497,000. Northern Trust Corp grew its holdings in shares of Domo by 2.5% during the 2nd quarter. Northern Trust Corp now owns 190,157 shares of the company’s stock worth $5,196,000 after purchasing an additional 4,639 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Domo during the 2nd quarter worth $4,592,000. 64.90% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on DOMO shares. UBS Group cut their target price on Domo from $28.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Morgan Stanley set a $24.00 target price on Domo and gave the company a “buy” rating in a research note on Monday, September 9th. Cowen cut their target price on Domo from $52.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Credit Suisse Group cut Domo from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $20.00 in a research note on Friday, September 6th. Finally, JMP Securities cut their target price on Domo from $47.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.71.

NASDAQ DOMO traded down $0.14 during trading on Friday, hitting $16.80. The stock had a trading volume of 227,000 shares, compared to its average volume of 381,148. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50-day moving average price is $16.26 and its two-hundred day moving average price is $25.34. Domo has a 12 month low of $13.28 and a 12 month high of $47.08. The company has a market capitalization of $465.09 million, a PE ratio of -1.78 and a beta of 0.75.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.27. Domo had a negative return on equity of 403.37% and a negative net margin of 81.35%. The firm had revenue of $41.70 million for the quarter, compared to analyst estimates of $41.68 million. During the same period in the prior year, the firm posted ($3.44) EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, equities analysts anticipate that Domo will post -4.7 earnings per share for the current fiscal year.

About Domo

Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.

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