- Cowen analyst J. Derrick Wood raises his Domo (NASDAQ:DOMO) price target from $42 to $50, saying he's hearing of "a very large deal" in the pipeline that isn't reflected in the current guidance.
- Wood praises Domo's "dramatically improving" business with billings growth acceleration that could lead to a re-rating of the stock's multiple.
- The analyst maintains an Outperform rating on Domo, calling it a top pick. Wall Street analysts and SA contributors share that bullish view, while Quants have a Neutral rating.
- Previously: Domo gains after Q2 beats, upside full-year forecast (Sep. 03 2020)
- Deeper dive: Domo's Q2 earnings call transcript.
- Domo shares are up 8.1% to $40.29.