Domo upgraded to Buy from Hold at TD Cowen

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.