Domo Inc (NASDAQ:DOMO) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 2,788,164 shares, a drop of 39.0% from the April 15th total of 4,568,089 shares. Based on an average daily volume of 926,913 shares, the short-interest ratio is presently 3.0 days. Currently, 16.5% of the shares of the company are sold short.

In related news, EVP Catherine Wong sold 6,580 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $38.74, for a total value of $254,909.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several hedge funds have recently bought and sold shares of DOMO. Metropolitan Life Insurance Co NY acquired a new position in shares of Domo in the 1st quarter valued at $217,000. Sylebra HK Co Ltd boosted its holdings in shares of Domo by 7.3% in the 1st quarter. Sylebra HK Co Ltd now owns 2,562,689 shares of the company’s stock valued at $103,353,000 after purchasing an additional 174,297 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Domo in the 1st quarter valued at $51,000. Morgan Stanley boosted its holdings in shares of Domo by 511.5% in the 1st quarter. Morgan Stanley now owns 2,221,720 shares of the company’s stock valued at $89,603,000 after purchasing an additional 1,858,371 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Domo in the 1st quarter valued at $300,000. Institutional investors own 63.09% of the company’s stock.

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

DOMO stock opened at $34.92 on Friday. Domo has a 12-month low of $13.28 and a 12-month high of $47.08. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $946.29 million and a PE ratio of -3.70.

Domo (NASDAQ:DOMO) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.42) by $0.29. The company had revenue of $39.40 million for the quarter, compared to analyst estimates of $37.77 million. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. On average, analysts forecast that Domo will post -4.69 earnings per share for the current year.

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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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