Is Domo Stock a Buy Now?
's (NASDAQ: DOMO) stock sank 36% to a three-and-a-half-year low on Aug. 25 after the cloud-based enterprise software company posted its latest earnings report. For the second quarter of fiscal 2024 (ended July 31), its revenue rose 5% year over year to $79.7 million and beat analysts' estimates by $0.8 million. It narrowed its adjusted net loss from $8.2 million to $0.8 million, or $0.02 per share, which also cleared the consensus forecast by seven cents.
Those headline numbers weren't disastrous, but its grim guidance suggested the grueling slowdown was far from over. Does Domo's post-earnings plunge represent a buying opportunity? Or is it a falling knife which should be avoided?
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Source Fool.com
