Domo price target lowered to $51 from $56 at Morgan Stanley

Morgan Stanley analyst Sanjit Singh lowered the firm’s price target on Domo to $51 from $56 and keeps an Overweight rating on the shares. Domo reported Q3 revenue and billings ahead of guidance and consensus expectations, but growth is slowing as the macro environment weakens, said Singh. Management lowered the forward growth outlooks, but is also countering with a faster pivot to profitability, the analyst added.