Domo price target lowered to $30 from $43 at JMP Securities

JMP Securities analyst Patrick Walravens lowered the firm’s price target on Domo to $30 from $43 to reflect the company’s "lower projected growth and weak balance sheet" but keeps an Outperform rating on the shares after its Q3 results. The quarter was better than expected, though the company’s worries about big deal close rates and lower renewal rates in Q4 and next year showed up in the guidance, the analyst tells investors in a research note. Walravens adds however that he also saw some positives, including an 800 basis point improvement in operating margin in Q3 vs. Q2 as well as the management guiding to positive operating income next year.