Short Interest in Domo, Inc. (NASDAQ:DOMO) Decreases By 5.9%

Domo, Inc. (NASDAQ:DOMO - Get Free Report) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,430,000 shares, a drop of 5.9% from the December 15th total of 1,520,000 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily volume of 315,100 shares, the days-to-cover ratio is presently 4.5 days.

Hedge Funds Weigh In On Domo

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Domo during the 3rd quarter worth approximately $88,000. XTX Topco Ltd bought a new stake in Domo during the third quarter worth $97,000. Quest Partners LLC lifted its stake in Domo by 291.9% in the third quarter. Quest Partners LLC now owns 13,700 shares of the company's stock valued at $103,000 after acquiring an additional 10,204 shares during the last quarter. Olympiad Research LP acquired a new stake in Domo in the third quarter valued at $161,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Domo in the 3rd quarter valued at about $181,000. Institutional investors and hedge funds own 76.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Lake Street Capital lifted their target price on shares of Domo from $8.00 to $9.50 and gave the company a "hold" rating in a research report on Friday, December 6th. TD Cowen increased their target price on Domo from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, November 29th. Finally, JMP Securities reissued a "market outperform" rating and issued a $16.00 price target on shares of Domo in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $10.10.

Domo Stock Performance

NASDAQ:DOMO traded up $0.14 during trading hours on Friday, hitting $7.26. The stock had a trading volume of 262,354 shares, compared to its average volume of 301,656. Domo has a one year low of $6.11 and a one year high of $12.23. The business's 50 day moving average is $7.98 and its 200-day moving average is $7.79. The company has a market cap of $283.94 million, a price-to-earnings ratio of -3.32 and a beta of 2.46.

Domo (NASDAQ:DOMO - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.27). The firm had revenue of $79.68 million for the quarter, compared to the consensus estimate of $77.56 million. The firm's revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Domo will post -2.1 EPS for the current fiscal 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.