Business intelligence platform Domo (NASDAQ: DOMO) will be announcing earnings results this Monday after market close. Here’s what you need to know.
Domo beat analysts’ revenue expectations last quarter, reporting revenues of $79.63 million, up 1.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ billings estimates.
Is Domo a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Domo’s revenue to be flat year on year, in line with its flat revenue from the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Domo has a history of exceeding Wall Street’s expectations.
Looking at Domo’s peers in the data analytics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 84.7%, beating analysts’ expectations by 6.1%, and CLEAR Secure reported revenues up 19.7%, topping estimates by 3.5%. Palantir Technologies traded down 6.9% following the results while CLEAR Secure was also down 1%.
Read our full analysis of Palantir Technologies’s results here and CLEAR Secure’s results here.
There has been positive sentiment among investors in the data analytics segment, with share prices up 4.2% on average over the last month. Domo is down 13.7% during the same time and is heading into earnings with an average analyst price target of $6 (compared to the current share price of $3.01).
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