DOMO Stock Is a Potential Play – Why This Stock Should Be Watched

DOMO stock

DOMO stock (NASDAQ:DOMO) is on the radar today. This Utah-based computer software company, Domo Inc, is trading hands for $34.92 USD at present. On a decline of 5% at present, there is potentially a lot of upswing ahead.

DOMO Stock

The company operates in the highly lucrative area of cloud computing, but not in the traditional manner. Software as a Service (SaaS) platforms are all the rage in business. But competition is stiff and plentiful. With so many platforms in use, it’s difficult for a company to analyze data from multiple applications all in service at the same time.

But that’s where small-cap tech stock Domo (NASDAQ:DOMO) comes in.

Rather than competing with the already established and deep-pocketed bug tech names, the company actually does something far cleverer; it ties them together. Its service gives customers the ability to see the whole picture from all their analytical data services in use.

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Growing Fast

So far, DOMO is doing well and with 1,500 customers in tow, there is demand for its software. Paying for its services isn’t cheap either. The company is raking it in; last quarter billings at Domo rose 35% year-over-year and total revenues grew by 31%.

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The potential here is already on show. Analysts expect that DOMO stock will continue to grow as the company enjoys continued success. With a market cap of only $1 billion, there’s is “plenty of room for capital appreciation”.

The Take-Away

These shares may be the next generation of big-tech stock yet. It’s hard to predict, but certainly, the potential is clear. 

There are many small- and mid-cap tech stocks out there that offer a big opportunity to find above-average growth in both revenues and profits.

Have you a favorite tech-stock? Are you already aware of DOMO stock? What are your thoughts?

Let us know!

Featured Image: deposit photos/serezniy