Portolan Capital Management LLC Has $42.53 Million Stock Position in Domo, Inc. $DOMO

Key Points

• Portolan Capital Management boosted its stake in Domo by 142.3% to 2,684,753 shares (about 6.51% of the company), a position worth $42.53 million and its 12th largest holding.
• Domo's latest quarter reported an EPS miss of ($0.19) versus ($0.03) expected, while revenue came in at $79.63 million (a slight 1% year-over-year increase and marginal beat).
• Analyst sentiment is mixed with a MarketBeat average rating of Hold and an average price target of $8.64, and institutional investors collectively own about 76.64% of the stock.

Portolan Capital Management LLC boosted its position in Domo, Inc. (NASDAQ:DOMO - Free Report) by 142.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,684,753 shares of the company's stock after acquiring an additional 1,576,884 shares during the period. Domo accounts for about 2.3% of Portolan Capital Management LLC's holdings, making the stock its 12th biggest position. Portolan Capital Management LLC owned approximately 6.51% of Domo worth $42,526,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DOMO. State of Alaska Department of Revenue bought a new stake in shares of Domo during the third quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in shares of Domo in the 2nd quarter worth $42,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Domo in the 3rd quarter worth $70,000. Raymond James Financial Inc. acquired a new stake in Domo in the 2nd quarter valued at $122,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Domo by 26.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,181 shares of the company's stock valued at $142,000 after purchasing an additional 2,109 shares during the period. Institutional investors and hedge funds own 76.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DOMO. Wall Street Zen downgraded shares of Domo from a "buy" rating to a "hold" rating in a report on Sunday, December 21st. Cantor Fitzgerald reduced their price objective on shares of Domo from $13.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Domo in a research report on Wednesday, January 21st. TD Cowen lowered their target price on shares of Domo from $16.00 to $9.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Finally, Lake Street Capital dropped their price target on shares of Domo from $13.00 to $7.00 and set a "hold" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.64.

Domo Stock Performance

Domo stock opened at $4.71 on Friday. Domo, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $18.49. The firm's 50-day simple moving average is $5.38 and its 200 day simple moving average is $10.26. The stock has a market cap of $196.88 million, a PE ratio of -3.25 and a beta of 1.70.

Domo (NASDAQ:DOMO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.16). The business had revenue of $79.63 million for the quarter, compared to analysts' expectations of $78.65 million. The firm's revenue for the quarter was up 1% on a year-over-year basis. As a group, analysts predict that Domo, Inc. will post -2.1 EPS for the current fiscal year.

Domo Profile

Domo, Inc NASDAQ: DOMO is a cloud-based software company that specializes in business intelligence and data analytics. The company's flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.

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