Domo price target raised to $10 from $9 at TD Cowen

TD Cowen raised the firm’s price target on Domo (DOMO) to $10 from $9 and keeps a Hold rating on the shares ahead of the Q3 report on December 5. Channel checks suggest the company’s new initiatives around consumption pricing and partnerships continue to progress relatively well, the analyst tells investors in a research note. That said, TD notes Domo’s efforts are still early in impacting the model and there does seem to be more changes in its go-to-market structure with a record drop in sales headcount this quarter. The firm looks for modest sales upside and stronger margin upside this quarter.