TD Cowen lifts Domo stock price target to $13 from $10.50

On Monday, TD Cowen analysts adjusted their outlook on Domo stock (NASDAQ: NASDAQ:DOMO), increasing the price target to $13 from $10.50 while maintaining a Hold rating. The decision comes after discussions with Domo CFO Todd Crane at the TMT conference held in New York City last week. The stock is currently trading near its 52-week high of $13.28, with analyst targets ranging from $9 to $17.

The analysts expressed optimism about Domo’s ongoing turnaround efforts, highlighting the positive impact of new partnerships with CDW (NASDAQ:CDW) and changes to the company’s consumption model. These developments were noted as encouraging signs of progress, reflected in the stock’s impressive 90% return over the past year. InvestingPro analysis reveals additional insights about Domo’s performance metrics and future potential.

Despite the positive outlook, the analysts indicated that the recent increase in Domo’s share price already reflects these improvements. They are seeking further evidence to confirm that the company’s momentum will continue to grow.

The Hold rating remains in place as TD Cowen analysts await additional confirmations of sustained progress in Domo’s strategic initiatives.

In other recent news, DOMO reported a strong start to the fiscal year 2026, surpassing FactSet consensus expectations in key financial metrics such as billings, revenue, operating income, and free cash flow. This robust performance is attributed to effective pipeline building and strategic partnerships, notably highlighted at the Domopalooza conference. Cantor Fitzgerald responded by raising its price target for DOMO to $17, emphasizing the company’s favorable Revenue Performance Obligation to Annual Recurring Revenue ratio compared to other SaaS companies. Lake Street Capital Markets also increased its price target to $9, citing improved sales force productivity and a high Annual Contract Value retention rate. Furthermore, DA Davidson raised its price target to $9 following DOMO’s impressive first-quarter earnings, which led to an upward revision of the full-year guidance for revenue and earnings. DOMO’s shift towards a consumption-based pricing model, now accounting for over 70% of its Annual Recurring Revenue, is expected to rise to nearly 90% by year-end. The company’s financial achievements have garnered attention, with its CFO and Head of Investor Relations set to present at DA Davidson’s Technology Conference in Nashville. These developments reflect a positive outlook on DOMO’s growth trajectory and market position.

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