Data visualisation and business intelligence company Domo (NASDAQ:DOMO) will be reporting earnings tomorrow after market close. Here's what to look for.
Last quarter Domo reported revenues of $65 million, up 21.3% year on year, beating analyst revenue expectations by 1.19%. It was a slower quarter for the company, with an 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 grow 18% year on year to $67.1 million, slowing down from the 23.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.40 per share.
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 has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.83%.
Looking at Domo's peers in the data and analytics software segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. Palantir (NYSE:PLTR) delivered top-line growth of 34.3% year on year, beating analyst estimates by 3.54% and Amplitude (NASDAQ:AMPL) reported revenues up 75.1% year on year, exceeding estimates by 5.26%. Palantir traded down 21.1% on the results, Amplitude was down eye-watering 58.9%. Read our full analysis of Palantir's results here and Amplitude's results here.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022 and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 7.13% over the last month. Domo is down 4.94% during the same time, and is heading into the earnings with analyst price target of $101.3, compared to share price of $44.64.
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The author has no position in any of the stocks mentioned.