Smartsheet price target lowered to $50 from $57 at Jefferies

Jefferies lowered the firm’s price target on Smartsheet to $50 from $57 and keeps a Buy rating on the shares. Revenue beat expectations by 1% in Q4, but Q1 and FY25 revenue guidance came in 2% below the Street, notes the analyst, who expects momentum to ramp through the year. The new head of go-to-market could rejuvenate growth, but some adjustment is possible in the near-term, the analyst added.