TD Cowen analyst Derrick Wood upgraded Domo (DOMO) to Buy from Hold with a price target of $21, up from $13. The company is “turning the corner” on its two big initiatives of shifting to consumption pricing and partnering with cloud data warehouses, the analyst tells investors in a research note. The firm believes these changes should begin a period of sustained growth acceleration for Domo. While investor demand for data and infrastructure stocks is rising, supply is limited and Domo “has been under the radar,” contends TD.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DOMO: