Domo Inc (NASDAQ:DOMO) Short Interest Up 51.7% in March

Domo Inc (NASDAQ:DOMO) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,648,351 shares, a growth of 51.7% from the February 28th total of 2,405,159 shares. Based on an average trading volume of 1,350,450 shares, the short-interest ratio is presently 2.7 days. Approximately 28.2% of the shares of the stock are sold short.

In other news, EVP Catherine Wong sold 6,580 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $38.74, for a total transaction of $254,909.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Domo by 1.8% in the fourth quarter. BlackRock Inc. now owns 4,314,930 shares of the company’s stock valued at $84,703,000 after acquiring an additional 75,524 shares during the last quarter. Sylebra HK Co Ltd boosted its position in shares of Domo by 78.0% during the fourth quarter. Sylebra HK Co Ltd now owns 2,388,392 shares of the company’s stock worth $46,884,000 after purchasing an additional 1,046,474 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of Domo by 40.0% during the third quarter. Federated Investors Inc. PA now owns 350,000 shares of the company’s stock worth $7,508,000 after purchasing an additional 100,000 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Domo by 162.5% during the third quarter. Vanguard Group Inc now owns 326,441 shares of the company’s stock worth $7,002,000 after purchasing an additional 202,091 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Domo by 162.5% during the third quarter. Vanguard Group Inc. now owns 326,441 shares of the company’s stock worth $7,002,000 after purchasing an additional 202,091 shares in the last quarter. 65.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group upped their price target on shares of Domo from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Needham & Company LLC increased their target price on shares of Domo to $50.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Zacks Investment Research raised shares of Domo from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, March 18th. JMP Securities upped their price target on shares of Domo from $35.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Finally, Morgan Stanley upped their price target on shares of Domo from $29.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Domo has an average rating of “Buy” and a consensus price target of $37.25.

DOMO traded down $1.60 during midday trading on Friday, reaching $34.49. 945,509 shares of the company’s stock were exchanged, compared to its average volume of 1,046,359. The stock has a market cap of $933.16 million and a price-to-earnings ratio of -3.66. The company has a quick ratio of 2.04, a current ratio of 1.77 and a debt-to-equity ratio of 2.18. Domo has a one year low of $13.28 and a one year high of $47.08.

Domo (NASDAQ:DOMO) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.42) by $0.29. The firm had revenue of $39.40 million for the quarter, compared to analyst estimates of $37.77 million. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. Equities research analysts expect that Domo will post -4.69 EPS for the current fiscal year.

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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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