Smartsheet price target raised to $36 from $32 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the firm’s price target on Smartsheet to $36 from $32 but keeps a Sector Perform rating on the shares. The company reported a "resilient" quarter with revenue and billings topping estimates and growth holding up better than peers in a tough macro environment, the analyst tells investors in a research note. Jaluria adds however that while he favors Smartsheet over its competitors, his neutral stance reflects his concerns on the company’s addressable market and competition.