Domo Inc (NASDAQ:DOMO) Sees Significant Decline in Short Interest

Domo Inc (NASDAQ:DOMO) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,453,800 shares, a decrease of 11.9% from the June 30th total of 3,920,300 shares. Based on an average daily volume of 653,700 shares, the days-to-cover ratio is currently 5.3 days. Currently, 26.7% of the shares of the company are sold short.

A number of brokerages have issued reports on DOMO. Morgan Stanley set a $47.00 price objective on Domo and gave the company a “buy” rating in a research note on Friday, June 7th. Zacks Investment Research downgraded Domo from a “buy” rating to a “hold” rating in a research note on Monday, May 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $47.20.

Several hedge funds have recently bought and sold shares of DOMO. First Trust Advisors LP purchased a new stake in Domo during the 2nd quarter worth about $29,791,000. Vanguard Group Inc. raised its holdings in shares of Domo by 22.1% in the 2nd quarter. Vanguard Group Inc. now owns 941,545 shares of the company’s stock valued at $25,722,000 after acquiring an additional 170,519 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of Domo by 25.1% in the 1st quarter. Federated Investors Inc. PA now owns 500,239 shares of the company’s stock valued at $20,175,000 after acquiring an additional 100,239 shares in the last quarter. FMR LLC purchased a new stake in shares of Domo in the 4th quarter valued at about $4,749,000. Finally, TCW Group Inc. raised its holdings in shares of Domo by 65.8% in the 1st quarter. TCW Group Inc. now owns 216,298 shares of the company’s stock valued at $8,724,000 after acquiring an additional 85,855 shares in the last quarter. Institutional investors own 74.31% of the company’s stock.

NASDAQ:DOMO traded up $0.34 during trading on Friday, reaching $25.42. The company’s stock had a trading volume of 241,565 shares, compared to its average volume of 735,759. The firm has a market cap of $695.06 million, a price-to-earnings ratio of -2.70 and a beta of 0.78. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a 50 day moving average of $27.89 and a 200-day moving average of $32.96. Domo has a 12 month low of $13.28 and a 12 month high of $47.08.

Domo (NASDAQ:DOMO) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($1.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.37. The firm had revenue of $40.80 million during the quarter, compared to the consensus estimate of $40.69 million. Domo had a negative return on equity of 253.84% and a negative net margin of 95.39%. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. Equities research analysts forecast that Domo will post -4.82 earnings per share for the current fiscal year.

Domo Company Profile

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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