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Fly News Breaks for March 21, 2019
SMAR
Mar 21, 2019 | 16:54 EDT
DA Davidson analyst Rishi Jaluria initiated Smartsheet with a Neutral rating and a price target of $45. The analyst cites the company's position as a "leading provider of collaboration software designed for business users" and has a positive view on its "value proposition, unique business focus within collaboration software, and rapid growth". Jaluria believes that shares are fully valued at 15-times enterprise value to expected FY20 revenue however and prefers to wait for a better entry point to get more constructive on the stock.
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