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SILICON SLOPES, Utah - Domo (NASDAQ:DOMO), a cloud software company with a market capitalization of $458 million that appears undervalued according to InvestingPro Fair Value estimates, has joined the Open Semantic Interchange (OSI), an open source initiative that aims to standardize fragmented data definitions across platforms and tools, according to a company press release.
The OSI initiative, backed by Snowflake and other ecosystem partners, seeks to establish a universal, vendor-neutral standard for semantic data to ensure consistent metrics and definitions across various platforms including dashboards, notebooks, and machine learning models.
"This is about eliminating the chaos of conflicting metrics," said Ben Schein, Chief Analytics Officer at Domo. "OSI will help our customers go from fragmented data definitions to broadly understood insights."
The collaboration aims to accelerate data interoperability between platforms, streamline data operations, and reduce complexity. According to the announcement, this standardization is designed to help organizations prepare their data for AI applications and ensure consistency across tools. Despite Domo’s strategic initiatives, InvestingPro data reveals the company has not been profitable over the last twelve months, though its stock has shown strong performance with a 56.92% year-to-date return.
Josh Klahr, Director of Analytics Product Management at Snowflake, described the OSI as "a critical step in building that bedrock" for unlocking the full potential of data and AI.
As a member of OSI, Domo will contribute to developing a transparent and community-driven standard for semantic model sharing. The initiative brings together partners from various sectors including AI, business intelligence, data governance, data engineering, financial services, and manufacturing.
The press release states that OSI is being built as a community-driven standard to simplify data operations and provide organizations with flexibility to build future-ready data infrastructure. Investors should note that Domo is scheduled to report its next earnings on December 4, with analysts forecasting continued challenges. For comprehensive analysis including additional ProTips and detailed financial metrics, check out Domo’s Pro Research Report, available exclusively through InvestingPro.
In other recent news, Domo reported its second-quarter fiscal 2026 results, surpassing expectations with non-GAAP earnings per share of $0.02, compared to the anticipated $0.05 loss per share. This performance has been met with positive feedback from analysts, with JMP Securities maintaining a Market Outperform rating and a $20 price target. Cantor Fitzgerald also raised its price target for Domo to $20 from $17, highlighting successful partnerships with major technology firms such as Amazon Web Services, Google BigQuery, and Snowflake. Additionally, Domo has expanded its operations to the AWS Asia-Pacific Region, aiming to better serve the Indian market and enhance performance while complying with data sovereignty regulations.
The company has launched multiple Availability Zones to ensure redundancy and low latency for its services. DA Davidson reiterated a Neutral rating with a $15 price target, noting the potential growth from partnerships with CDW providers. Meanwhile, JMP Securities expressed confidence in Domo’s future, following meetings with company executives. These recent developments reflect ongoing strategic efforts by Domo to strengthen its market position and expand its global reach.
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