BMO Capital raised the firm’s price target on Smartsheet to $50 from $44 and keeps an Outperform rating on the shares. The company’s Q2 results were better across the board amid upside to billings and margins, along with generally steady customer metrics, the analyst tells investors in a research note. Smartsheet’s new AI offerings and monetization strategies are intriguing looking out to FY25, though its net retention guidance for the second half of FY24 was a bit disappointing, the firm added.
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Read More on SMAR:
- Smartsheet price target raised to $52 from $49 at Citi
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- Smartsheet price target raised to $50 from $45 at Barclays
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- Smartsheet raises FY24 EPS view to 53c-57c from 37c-44c, consensus 42c
