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SMAR

Smartsheet

$28.26

0.925 (3.38%)

05:08
10/04/18
10/04
05:08
10/04/18
05:08

Smartsheet can hit $1B sales target in 4-6 years, says Jefferies

Smartsheet management announced at yesterday's analyst day that the company expects to reach $1B in revenue within the next four-to-six years, Jefferies analyst John DiFucci tells investors in a research note. Based on the current run rate, this implies a annual revenue growth of 34%-55%, the analyst adds. He believes this sales guidance is achievable and keeps a Buy rating on Smartsheet with a $38 price target.

SMAR Smartsheet
$28.26

0.925 (3.38%)

09/05/18
JPMS
09/05/18
NO CHANGE
Target $33
JPMS
Overweight
Smartsheet price target raised to $33 from $28 at JPMorgan
JPMorgan analyst Mark Murphy raised his price target for Smartsheet to $33 saying the company last night reported "solid beat-and-raise results with all metrics above expectations." The analyst continues to believe that Smartsheet faces ample growth opportunities across several vectors. He keeps an Overweight rating on the shares.
09/05/18
RBCM
09/05/18
NO CHANGE
Target $39
RBCM
Outperform
Smartsheet price target raised to $39 from $33 at RBC Capital
RBC Capital analyst Ross MacMillan raised his price target on Smartsheet to $39 and kept his Outperform rating after its better than expected Q2 results. The analyst cites Smartsheet's re-accelerated billings, improved net customer adds, and annual contract value growth, adding that the company also continues to invest while still growing its operating margins.
09/05/18
ADAM
09/05/18
NO CHANGE
Target $35
ADAM
Buy
Smartsheet price target raised to $35 from $29 at Canaccord
Canaccord analyst Richard Davis raised his price target on Smartsheet to $35 from $29 following Q2 results. The analyst cited its revenue and billings growth, the potential for scale, compelling economics, and high conviction in its fundamentals. Davis reiterated his Buy rating on Smartsheet shares.
09/05/18
RHCO
09/05/18
NO CHANGE
Target $37
RHCO
Buy
Smartsheet price target raised to $37 from $31 at SunTrust
SunTrust analyst Terry Tillman raised his price target on Smartsheet to $37 and kept his Buy rating after its Q2 results showed "strong revenue and billings upside" along with stronger than expected gross margins of 81.6%. Tillman adds that the company's upcoming analyst event could prove "incremental" to his positive investment outlook, anticipating more "positive commentary" around Smartsheet's customer economics and cohort analysis. The analyst further notes that the company's premium valuation of 14.7-times enterprise value to expected 2019 revenues is justified based on its billings estimates and growth profile.

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