Domo expands collaboration with Snowflake, launches managed apps

SILICON SLOPES, Utah - Domo (NASDAQ:DOMO), whose stock has surged over 71% in the past six months and is currently trading near its 52-week high, announced an expanded partnership with Snowflake to offer a suite of applications on Snowflake Marketplace, according to a company press release issued Thursday. InvestingPro data shows three analysts have recently revised their earnings expectations upward for the upcoming period.

The expanded collaboration includes Domo’s new managed offering, "Powered by Snowflake," which provides customers with a fully managed analytics and business intelligence solution where Domo maintains the Snowflake environment, handling deployment, management, and billing processes. The company, which generates annual revenue of $317 million with an impressive 74% gross margin, is positioning itself for growth in the data analytics market.

The applications available on Snowflake Marketplace include Domo’s Connector Framework with over 1,000 pre-built connectors, Magic ETL for data transformations, Reverse ETL for data synchronization, AI capabilities through Domo.AI on Snowflake Cortex AI, and a visual layer and app platform for analytics.

"With Domo now Powered by Snowflake, we’re able to deliver a fully managed analytics solution that removes complexity and enables customers to focus on driving business impact," said Josh James, CEO of Domo, in the press release.

Kieran Kennedy, VP of Data Cloud Product Partners at Snowflake, stated that the partnership aims to make it easier for customers to "unlock actionable insights through deeply integrated, AI-powered data products."

The companies report that organizations including Taylor Made, All Response Media, and Life Time Inc. are already using the integrated solutions to improve their data analytics capabilities.

Domo’s cloud-native portfolio is designed to accelerate data processing from ingestion to AI-driven insights within Snowflake’s AI Data Cloud environment.

In other recent news, Domo reported strong first-quarter results for fiscal year 2026, surpassing FactSet consensus expectations in key financial metrics such as billings, revenue, operating income, and free cash flow. These positive outcomes are attributed to successful pipeline-building efforts and initiatives like Domopalooza. Additionally, Domo has partnered with Burbio to enhance K-12 data analytics, integrating AI-powered tools to provide insights into school district documents. Analysts have responded to these developments with mixed ratings. Cantor Fitzgerald increased Domo’s stock price target to $17, citing a favorable Revenue Performance Obligation to Annual Recurring Revenue ratio and strong market momentum. TD Cowen also raised their price target to $13, maintaining a Hold rating while expressing optimism about Domo’s turnaround efforts. Meanwhile, Lake Street Capital Markets increased their price target to $9, acknowledging improved sales force productivity and a high Annual Contract Value retention rate. These adjustments reflect a cautious yet optimistic view of Domo’s strategic initiatives and financial performance.

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