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Fly News Breaks for June 7, 2019
DOMO
Jun 7, 2019 | 07:48 EDT
Morgan Stanley analyst Sanjit Singh noted that Domo's headline Q1 results largely met guidance and consensus, but he believes the company disappointed investors that were looking for a "beat and raise" report. However, he thinks Domo's quarter looks better "under the hood," as he contends that improving sales productivity, expanding renewal rates, and larger deal sizes are all signs of building enterprise momentum. Singh trimmed his price target on Domo shares to $47 from $52 following the report but keeps an Overweight rating on the shares.
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