Smartsheet price target raised to $50 from $41 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Smartsheet to $50 from $41 and keeps an Outperform rating on the shares. The analyst cites the company’s Q4 earnings beat in spite of the weakening macro environments, adding that while FY24 revenue and billings were expectations, both are "conservative and likely prudent". BMO further states that Smartshet is demonstrating consistent and meaningful free cash flow margin improvement.