SunTrust analyst Terry Tillman raised his price target on Smartsheet to $56 and kept his Buy rating, saying its Q4 results saw continued acceleration in billings growth while its $100K+ new annual contract value customer retention rate reached 134%. The analyst is also positive on the company's "large federal opportunity" that stands to be unlocked by FedRAMP authorization as well as its plans to add new Accelerator solutions in FY20. Given its "favorable long-term unit economics", Tillman believes that the premium valuation on Smartsheet is warranted.