Domo downgraded to Underperform from Outperform at Citizens

Citizens analyst Patrick Walravens double downgraded Domo (DOMO) to Underperform from Outperform with a $3.50 price target The company “faces several significant challenges,” including intestines competition, particularly in the Snowflake (SNOW) ecosystem and from privately-held Sigma Computing, the analyst tells investors in a research note. In addition, Citizens says Domo has a “significant debt overhang” of $124M, with an 12.5% interest rate that comes due in August 2028. The company currently has $48M in cash, the firm notes.