Domo, Inc. (NASDAQ:DOMO – Get Rating) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,410,000 shares, a growth of 6.0% from the March 31st total of 1,330,000 shares. Based on an average daily volume of 804,600 shares, the days-to-cover ratio is currently 1.8 days. Approximately 5.0% of the company’s stock are sold short.
Domo Stock Performance
Shares of Domo stock opened at $15.60 on Tuesday. The company has a market capitalization of $543.49 million, a P/E ratio of -5.02 and a beta of 2.15. The company’s fifty day moving average is $14.29 and its two-hundred day moving average is $14.72. Domo has a 1 year low of $11.35 and a 1 year high of $44.56.
Domo (NASDAQ:DOMO – Get Rating) last issued its earnings results on Monday, March 6th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.05. The firm had revenue of $79.62 million during the quarter, compared to analysts’ expectations of $77.32 million. As a group, equities analysts expect that Domo will post -2.54 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on DOMO. Morgan Stanley downgraded shares of Domo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $24.00 to $16.00 in a research report on Friday, January 20th. Lake Street Capital lowered their price objective on shares of Domo from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Domo in a research report on Monday, March 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.
Insider Activity
In other news, EVP Daren Thayne sold 2,847 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $13.11, for a total value of $37,324.17. Following the sale, the executive vice president now directly owns 204,799 shares in the company, valued at approximately $2,684,914.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Joshua G. James bought 350,026 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The shares were purchased at an average cost of $14.18 per share, with a total value of $4,963,368.68. Following the transaction, the chief executive officer now directly owns 429,810 shares of the company’s stock, valued at approximately $6,094,705.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Daren Thayne sold 2,847 shares of the stock in a transaction on Friday, March 31st. The shares were sold at an average price of $13.11, for a total transaction of $37,324.17. Following the completion of the transaction, the executive vice president now directly owns 204,799 shares in the company, valued at $2,684,914.89. The disclosure for this sale can be found here. In the last three months, insiders have bought 554,810 shares of company stock worth $7,814,329. 10.85% of the stock is currently owned by corporate insiders.
Institutional Trading of Domo
Hedge funds and other institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC purchased a new stake in shares of Domo in the first quarter valued at about $27,000. CWM LLC lifted its stake in shares of Domo by 713.3% in the third quarter. CWM LLC now owns 1,651 shares of the company’s stock valued at $30,000 after purchasing an additional 1,448 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Domo by 243.2% in the fourth quarter. Lazard Asset Management LLC now owns 5,268 shares of the company’s stock valued at $75,000 after purchasing an additional 3,733 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of Domo by 46.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,440 shares of the company’s stock valued at $78,000 after purchasing an additional 1,713 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Domo by 15.5% in the third quarter. Royal Bank of Canada now owns 5,975 shares of the company’s stock valued at $107,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 71.40% of the company’s stock.
Domo Company Profile
Domo, Inc designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. The company was founded by Joshua G. James in September 2010 and is headquartered in American Fork, UT.