Smartsheet price target raised to $63 from $55 at Citi

Citi raised the firm’s price target on Smartsheet to $63 from $55 and keeps a Buy rating on the shares. Following another Reuters report of takeover talks, Smartsheet reported a softer than typical revenue beat driven by a services headwind yet a “solid beat-and-raise” to subscriber revenue, the analyst tells investors in a research note. The firm says the company’s enterprise momentum continued along with early positive indicators on the pricing change.