Jefferies analyst John DiFucci says Smartsheet easily exceeded fiscal Q3 expectations across all metrics on the back of accelerating new subscription annual contract value. Further, the company set guidance for Q4 above the Street, DiFucci tells investors in a post-earnings research note. The analyst continues to view Smartsheet as an "early leader in an immense opportunity enabling a broader user base to harness the power of technology, essentially providing an application development platform for white collar workers." He maintains a Buy rating on the shares with a $38 price target.