Domo (DOMO): Buy, Sell, or Hold Post Q3 Earnings?
Domo currently trades at $7.45 per share and has shown little upside over the past six months, posting a small loss of 3.2%. The stock also fell short of the S&P 500’s 9.7% gain during that period.Is now the time to buy Domo, or should you be careful about including it in your portfolio?We're swiping left on Domo for now. Here are three reasons why we avoid DOMO and a stock we'd rather own.Founded by Josh James after selling his former business Omniture to Adobe, Domo provides business intelligence software that allows managers to access and visualize critical business metrics in real-time, using their smartphones.Domo’s billings came in at $73.4 million in Q3, and it averaged 2.6% year-on-year declines over the last four quarters. This performance was underwhelming and shows the company faced challenges in acquiring and retaining customers. It also suggests there may be increasing competition or market saturation.