Domo downgraded to Hold from Buy at Lake Street

Lake Street analyst Eric Martinuzzi downgraded Domo to Hold from Buy with a price target of $8, down from $15. Assuming Domo achieves its guided $70M billings in Q2, it will have posted negative billings comps in four of the last six quarters, notes the firm, which reduced its forecast as well as its rating and price target. The while the owner of the voting power of Domo, its CEO, has made “clear the company is for sale,” the firm says it reserves Buy ratings for companies that are executing and consistently meeting or exceeding estimates, which its says “does not describe Domo’s recent history.”