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DOMO Strengthens Its Cloud Offerings With New Solutions

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Domo (DOMO - Free Report) recently introduced a new cloud amplifier to strengthen its multi-cloud data offerings.

The cloud amplifier empowers customers to enhance their business impact by integrating data and reporting investments, unifying data governance as well as providing real-time data and insights.

Domo's cloud amplifier offers strong single and bi-directional data integrations, such as Snowflake, Dremio, Amazon Redshift, Databricks, as well as Google Cloud's BigQuery.

It enables companies to adopt a more flexible cloud strategy, and quick access and data integration.

Domo, Inc. Price and Consensus


Domo, Inc. Price and Consensus

Domo, Inc. price-consensus-chart | Domo, Inc. Quote


Domo’s Expanding Portfolio to Aid Prospect

Domo also revealed a native integration with Dremio, which enhances the flexibility of analytics, querying and transformations, as well as grants users access to data on the Domo platform through mobile apps and Microsoft Office integrations.

Further, the company recently unveiled several new features aimed at improving the data experience for everyone in an organization, regardless of their skill level, and helping users at all stages of their data journey.

The solution offers low-code to pro-code options to facilitate collaboration and design bespoke visualizations as well as data-driven decision-making.

Domo's low-to-no-code features integration with Microsoft Office Suite and Variables, which provide increased user flexibility and low-code solutions for common use cases, such as what-if analysis and KPI exploration, enabling data analysts to create interactive experiences.

Mid-code features Domo Bricks, offering an easy way for data practitioners to create custom visualizations and compose Domo apps with advanced features. New starter bricks are regularly added, including editable Gantt charts and enhanced visual capabilities.

Domo offers automated workflows and Jupyter Workspaces as pro-code features for customers to streamline business processes, explore Domo DataSets as well as execute data science and machine learning pipelines.

The company is committed to enabling the security and governance required for organizations to maintain complete control of their data.

Domo’s Top-Line to Aid Prospects

Domo’s top-line growth has been impacted by macroeconomic challenges that made the software sales process more complex, leading to longer deal cycles, heightened scrutiny of deals and the need to address challenges faced by end customers.

However, Domo’s continuous efforts to strengthen its portfolio are expected to benefit its top-line growth.

In the fourth quarter of fiscal 2023, Domo’s total revenues were $79.6 million, up 14% from the year-ago quarter’s reported figure. Notably, Subscription revenues were $70.3 million, which increased 18% year over year.

Notably, for the first quarter of fiscal 2024, Domo projects total revenues between $78.5 million and $79.5 million. Its Non-GAAP net loss is likely to be in the range of 15-19 cents per share.    

For first-quarter fiscal 2024, the Zacks Consensus Estimate for revenues is pegged at $79 million, indicating growth of 6.1% from the year-ago quarter’s reported figure.

Moreover, the consensus mark for loss is projected at 17 cents per share compared to a loss of 23 cents per share reported in the year-ago quarter.

Zacks Rank & Stocks to Consider

Currently, Domo carries a Zacks Rank #3 (Hold). Domo has lost 38.2% in a year compared with the Internet- Software industry and the Computer and Technology sector’s decline of 21.2% and 17.2%, respectively.

Some better-ranked stocks in the technology sector are Arista Networks (ANET - Free Report) , Salesforce (CRM - Free Report) and Analog Devices (ADI - Free Report) . While Arista Networks and Salesforce sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Arista Networks shares have gained 17.9% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.

Salesforce shares have lost 10.5% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.

Analog Devices shares have gained 10.3% in the past year. ADI’s long-term earnings growth rate is currently projected at 12.05%.

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