Gold rally may be losing steam but no major correction seen: DB
Investing.com - DA Davidson has reiterated its Neutral rating on Domo (NASDAQ:DOMO) with a price target of $15.00. The stock, currently trading at $14.18, has shown remarkable momentum with a 71.67% surge over the past six months, though InvestingPro analysis indicates the stock is slightly undervalued based on its Fair Value model.
The research firm expressed an incrementally positive outlook on Domo’s key growth drivers, noting that upside potential from partnerships with CDW providers remains in early stages.
DA Davidson highlighted that more customers are transitioning to consumption revenue models, which feature better retention metrics and provide a mechanical uplift to growth for the company.
The firm also pointed to elevated customer interest in artificial intelligence as a near-term demand tailwind for Domo, viewing the company positively given its position as an infrastructure player with an end-to-end data platform.
While DA Davidson appreciates Domo’s turnaround growth story, the firm emphasized that the recovery remains in its early phases.
In other recent news, Domo reported better-than-expected second-quarter fiscal 2026 results, with non-GAAP earnings per share of $0.02, surpassing consensus estimates of a $0.05 loss per share. The earnings report also highlighted improved revenue and profitability metrics. Following these results, JMP Securities reiterated its Market Outperform rating with a $20.00 price target, while DA Davidson assumed coverage with a Neutral rating and increased its price target to $15.00 from $9.00. Cantor Fitzgerald raised its price target for Domo to $20.00, citing productive collaborations with major technology partners like Amazon Web Services, Google BigQuery, and Snowflake. Additionally, Domo has expanded its operations to the AWS Asia-Pacific Region to better serve the Indian market, enhancing performance and compliance with data regulations. JMP Securities maintained its positive stance on Domo after meetings with company executives, keeping a price target of $20.00. These developments indicate a continued focus on strategic partnerships and market expansion for Domo.
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