On Tuesday, one day before it’s slated to publish its latest set of quarterly earnings, data analytics company Domo (NASDAQ: DOMO) earned a recommendation upgrade from an analyst. Investors took this to heart, pushing the company’s share price up in excess of 16%. That performance was miles better than the S&P 500 index’s 0.4% increase.
The upgrade came from TD Cowen’s Derrick Wood, who now feels Domo stock is a buy; previously, he ranked it as merely a hold. In changing his recommendation, Wood also increased his price target by almost 62% to $21 per share from the previous $13.
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