DA Davidson analyst Rishi Jaluria lowered his price target on Smartsheet to $38 and kept his Neutral rating after its analyst day held as part of its annual user conference, Smartsheet ENGAGE. The analyst is "incrementally more positive" on the company after the presentation highlighted "new content collaboration features, new Accelerators, a revamped partner program, and advanced capabilities" for Smartsheet platform, but sees the stock as "fairly valued" at 12-times enterprise value to his expected 2020 revenues, which is a premium to its peer group.