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Domo (DOMO) Reports Earnings Tomorrow. What To Expect

StockStory - Wed Nov 29, 2023

DOMO Cover Image

Data visualisation and business intelligence company Domo (NASDAQ:DOMO) will be reporting earnings tomorrow after market hours. Here's what to expect.

Last quarter Domo reported revenues of $79.67 million, up 5.5% year on year, in line with analyst expectations. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and underwhelming revenue guidance for the next quarter.

Is Domo buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Domo's revenue to be flat year on year at $79.02 million, a deceleration on the 21.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.12 per share.

Domo Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 1.6%.

Looking at Domo's peers in the data analytics segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Alteryx delivered top-line growth of 7.6% year on year, beating analyst estimates by 10.4% and Palantir reported revenues up 16.8% year on year, exceeding estimates by 0.4%. Alteryx traded up 16.9% on the results, and Palantir was up 12.8%.

Read our full analysis of Alteryx's results here and Palantir's results here.

There has been positive sentiment among investors in the data analytics segment, with the stocks up on average 11.8% over the last month. Domo is up 17% during the same time, and is heading into the earnings with analyst price target of $15.8, compared to share price of $9.5.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.