BofA update shows where active managers are putting money
Investing.com - Cantor Fitzgerald has raised its price target on Domo Inc. (NASDAQ:DOMO) to $20.00 from $17.00 while maintaining an Overweight rating on the stock. The company’s stock has shown remarkable momentum, surging nearly 30% in the past week and 148% year-to-date, now trading close to its 52-week high of $17.88. According to InvestingPro data, analyst targets for the stock range from $9 to $21.
The research firm cited Domo’s "highly productive" fiscal second quarter in advancing collaborations with key technology partners, including Amazon Web Services, Google BigQuery, and Snowflake. With a market capitalization of $710 million and a "Fair" overall financial health score from InvestingPro, the company shows promise despite current profitability challenges.
Cantor Fitzgerald highlighted Domo’s launch of a fully managed business intelligence and analytics solution powered by Snowflake, calling the company its "top SMID Cap pick."
The firm noted that Domo’s partner ecosystem-led deals are closing faster, with sales force productivity increasing more than threefold from the third quarter of fiscal 2025 to 67% currently.
Domo’s participation in the annual Snowflake Summit and Databricks Data + AI conference in June was also mentioned as evidence of the company’s commitment to strengthening strategic partnerships that are beginning to yield "real returns."
In other recent news, Domo reported better-than-expected second-quarter fiscal 2026 earnings, posting a non-GAAP earnings per share of $0.02, surpassing the consensus estimate of a $0.05 loss per share. Despite this positive earnings report, Domo’s stock fell approximately 13% in after-hours trading. JMP Securities analyst Patrick Walravens maintained a Market Outperform rating on the company with a price target of $20.00 following the earnings release. Additionally, DA Davidson assumed coverage on Domo with a Neutral rating and increased its price target to $15.00 from a previous $9.00. These developments come after Domo’s Q2 2025 earnings call, where the company reported its first-ever positive non-GAAP earnings per share, marking a significant milestone in its financial journey. The company has also expanded its AI capabilities, contributing to improved financial metrics. These recent developments highlight Domo’s ongoing efforts to strengthen its financial position and enhance its technological offerings.
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