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Fly News Breaks for June 6, 2019
SMAR
Jun 6, 2019 | 05:39 EDT
Smartsheet last night "easily exceeded" fiscal Q1 estimates across all metrics while maintaining a "consistently high" subscription revenue growth rate of 57%, Jefferies analyst John DiFucci tells investors in a reach note. Further, the company's Q2 guidance was better than expectations other than earnings, though annual earnings guidance was largely maintained, adds the analyst. He believes management's confidence in the business was reflected in the annual revenue guidance. DiFucci keeps a Buy rating on Smartsheet with a $52 price target.
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