Domo, Inc. (NASDAQ:DOMO) Sees Significant Decrease in Short Interest

Key Points

• Domo, Inc. experienced a significant drop in short interest of 26.0% in September, bringing the total to 2,050,000 shares, which accounts for approximately 6.2% of its stock.
• Research analysts have a consensus rating of "Moderate Buy" for Domo, with target prices ranging from $16.00 to $21.00, indicating positive growth expectations.
• In the second quarter, institutional investors increased their stakes, with 76.64% of the stock now owned by these investors.

Domo, Inc. (NASDAQ:DOMO - Get Free Report) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 2,050,000 shares, a drop of 26.0% from the August 31st total of 2,770,000 shares. Approximately 6.2% of the company's stock are short sold. Based on an average trading volume of 754,400 shares, the days-to-cover ratio is currently 2.7 days. Based on an average trading volume of 754,400 shares, the days-to-cover ratio is currently 2.7 days. Approximately 6.2% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DOMO shares. Lake Street Capital set a $16.00 target price on shares of Domo and gave the stock a "hold" rating in a report on Thursday, August 28th. Citigroup restated an "outperform" rating on shares of Domo in a research note on Wednesday, June 25th. TD Cowen raised Domo from a "hold" rating to a "buy" rating and lifted their target price for the company from $13.00 to $21.00 in a research report on Tuesday, August 26th. JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of Domo in a report on Wednesday, September 10th. Finally, Stephens began coverage on Domo in a research note on Friday, July 18th. They issued an "overweight" rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

Hedge Funds Weigh In On Domo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Domo by 53.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,838 shares of the company's stock valued at $26,000 after purchasing an additional 642 shares during the last quarter. Headlands Technologies LLC acquired a new position in Domo in the 2nd quarter valued at about $42,000. FNY Investment Advisers LLC bought a new position in Domo in the 2nd quarter valued at about $49,000. AlphaQuest LLC raised its holdings in Domo by 707.3% in the 2nd quarter. AlphaQuest LLC now owns 6,604 shares of the company's stock valued at $92,000 after acquiring an additional 5,786 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Domo during the second quarter worth approximately $122,000. 76.64% of the stock is owned by institutional investors.

Domo Stock Performance

Shares of NASDAQ:DOMO opened at $15.19 on Tuesday. Domo has a 52-week low of $6.01 and a 52-week high of $18.49. The company has a market capitalization of $626.30 million, a P/E ratio of -7.83 and a beta of 1.82. The company has a 50-day simple moving average of $15.66 and a 200 day simple moving average of $12.61.

Domo (NASDAQ:DOMO - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07. The business had revenue of $79.72 million during the quarter, compared to the consensus estimate of $78.07 million. During the same quarter in the prior year, the company earned ($0.07) EPS. Domo's quarterly revenue was up 1.7% on a year-over-year basis. Domo has set its FY 2026 guidance at -0.190--0.110 EPS. Q3 2026 guidance at -0.070--0.030 EPS. As a group, equities analysts forecast that Domo will post -2.1 earnings per share for the current 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.

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