Smartsheet price target lowered to $54 from $60 at UBS

UBS analyst Taylor McGinnis lowered the firm’s price target on Smartsheet to $54 from $60 and keeps a Buy rating on the shares. Smartsheet reported a below average beat on both revenue and billings for Q4, driven by more pressure among its small and medium-sized business customers, the analyst tells investors in a research note. It’s possible that the worsening SMB trends could serve as an overhang on the stock in the near-term, the firm says.