Smartsheet price target raised to $62 from $60 at Guggenheim

Guggenheim raised the firm’s price target on Smartsheet to $62 from $60 and keeps a Buy rating on the shares after the company reported “solid” Q2 results that reflected improved business momentum. The firm notes its raised price target reflects a “very attractive” EV/NTM recurring revenue multiple and it believes “the market will recognize the value here…or someone else will.”