Domo price target lowered to $10 from $13 at DA Davidson

DA Davidson analyst Lucky Schreiner lowered the firm’s price target on Domo (DOMO) to $10 from $13 and keeps a Neutral rating on the shares. The company reported Q3 results that were in-line on revenue but missed billings expectations as a result of longer sales cycles around partner deals, and the firm is still waiting to see more consistent execution and upside to the growth outlook before becoming more constructive on Domo, the analyst tells investors in a research note.