Domo price target lowered to $23 from $25 at Lake Street

Lake Street analyst Eric Martinuzzi lowered the firm’s price target on Domo to $23 from $25 and keeps a Buy rating on the shares after the company reported its Q3 results. Domo did not give formal FY24 guidance, but did say it believes 10% revenue growth "is a good place to start," noted Martinuzzi, who was previously modeling 15% growth. While "pleased" with Q3, he was "disappointed in the FY24 growth expectation" and has lowered his own forecasts, added the analsyt.