Why Domo Stock Rocketed More Than 16% Higher Today

Core Insights - Domo received an upgrade from TD Cowen's analyst Derrick Wood, changing the recommendation from hold to buy, with a new price target of $21 per share, up nearly 62% from the previous $13 [2][4] - Following the upgrade, Domo's share price increased over 16%, significantly outperforming the S&P 500's 0.4% rise [1][2] - Wood highlighted Domo's transition from per-seat to consumption-based pricing as a key factor for potential growth, which could enhance service adoption and monetization [4][5] Company Performance - Domo is set to release its Q2 fiscal 2026 earnings, following a Q1 report that showed a narrowing of net loss and a 24% increase in remaining performance obligations (RPOs) [6] - The company's revenue remained flat year over year, but the improvement in RPOs indicates a positive trend in future revenue potential [6]