DOMO - Domo upgraded at UBS on accelerating growth

Forecasting a strong spending environment for cloud data platforms this year, UBS upgrades Domo (DOMO) from Neutral to Buy and raises the price target from $40 to $90.Analyst  Jennifer Swanson Lowe: "Growth trends accelerated in Q4 and the outlook for FY22 is even brighter as the company shifts back into sales hiring mode."The analyst praises Domo's stabilizing sales execution and cash burn.Domo shares are down 0.4% to $62.19, paring earlier gains of over 5%.Last week, Domo reported Q4 beats with mixed forecasts.

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Domo upgraded at UBS on accelerating growth