reported their quarterly earnings on Wednesday, both companies saw dramatically different stock movements the next day.
Domo and Cloudera, two enterprise companies without much else in common, reported their quarterly financials on Wednesday — and saw dramatic stock moves the day after. However, Cloudera estimated revenue for the next quarter of $187 million to $190 million, while analysts forecasted $189.9 million — right at the top of that range. For the 2020 fiscal year, Wall Street is expecting to see $851.87 million in revenues, which is also towards the top of Cloudera's new estimates of $835 million to $855 million.
However, he says, Cloudera need to execute much better next quarter to prove the naysayers wrong and show that the companies are successfully integrated. Domo's beat proves that its new sales plan is working, says J. Derrick Wood, managing director at Cowen. Domo is a client of Cowen, according to the firm's disclosures.
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