Domo downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Sanjit Singh downgraded Domo to Equal Weight from Overweight with a price target of $16, down from $24. He had misjudged how quickly operational challenges that arose in FY23 have materially altered Domo’s growth profile and disruption risks are still present following a wave of executive departures and heading into a tougher spend environment, Singh tells investors.