Domo Inc (NASDAQ:DOMO) on Monday reported mixed first-quarter financial results. The company announced it has not executed a definitive agreement related to a potential transaction.

Domo reported quarterly losses of 2 cents per share which beat the analyst consensus estimate of losses of 7 cents per share. The company reported quarterly sales of $79.403 million which missed the analyst consensus estimate of $79.747 million.

“One thing that has become clear is that we are still in the early innings of a major shift from AI experimentation to AI embedded in everyday work,” said Josh James, founder and CEO of Domo. “I believe Domo’s combination of data, applications, and AI agents positions us to play an important role in that shift. The Board’s responsibility was to determine the best way to build on that opportunity and maximize value for stockholders. After considering the available alternatives, the Board concluded that pursuing a strategic transaction is the best path forward.”

Domo shares fell 33.8% to trade at $2.16 on Tuesday.

These analysts made changes to their price targets on Domo following earnings announcement.

  • Citizens analyst Patrick Walravens maintained Domo with a Market Underperform and lowered the price target from $3.5 to $2.25.
  • Cantor Fitzgerald analyst Thomas Blakey maintained the stock with an Overweight rating and cut the price target from $8 to $5.
  • Stephens & Co. analyst Brett Huff reiterated the stock with an Overweight rating and maintained a price target of $8.

Considering buying DOMO stock? Here’s what analysts think:

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