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Fly News Breaks for September 6, 2019
DOMO
Sep 6, 2019 | 05:38 EDT
Credit Suisse analyst Brad Zelnick downgraded Domo to Neutral from Outperform and lowered his price target for the shares to $20 from $45. The company's "underwhelming" fiscal Q2 results saw billings growth decelerate to 9% year-over-year, Zelnick tells investors in a research note. The analyst believes challenges in Domo's enterprise business raise questions about the long term unit economics of the business. He moves to the sidelines pending better clarity on sales execution and product traction amid rising competitive threats.
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