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SMAR

Smartsheet

$43.54

-0.755 (-1.70%)

06:00
06/12/19
06/12
06:00
06/12/19
06:00

Smartsheet 12.9M share Secondary priced at $43.50

The deal size was increased to 12.9M shares from 10.75M shares. Morgan Stanley, JPMorgan and Jefferies acted as joint book running managers for the offering.

  • 12

    Jun

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    Jun

SMAR Smartsheet
$43.54

-0.755 (-1.70%)

06/07/19
DADA
06/07/19
NO CHANGE
Target $45
DADA
Neutral
Smartsheet remains 'fairly valued' after 'strong quarter', says DA Davidson
DA Davidson analyst Rishi Jaluria kept his Neutral rating and $45 price target on Smartsheet after its "strong" beat-and-raise Q1 results, saying the quarter saw "continued strength" in subscription revenue and large customer growth. The analyst attributes the 3% afterhours decline in the stock price to below-consensus Q2 profitability guidance that reflected the spending shift from Q1 and the deceleration in domain customer growth. Jaluria adds that Smartsheet has been "remarkably consistent" with subscription growth of 56%-57% over the past 5 quarters but also notes that the stock trades at a premium valuation relative to its peer group.
06/06/19
JPMS
06/06/19
NO CHANGE
Target $47
JPMS
Overweight
Smartsheet target raised to $47 on 'strong' Q1 at JPMorgan
JPMorgan analyst Mark Murphy raised his price target for Smartsheet to $47 from $45 saying the company reported "strong" fiscal Q1 results, with outperformance across all key metrics and raising full year revenue and billings guidance. Calculated billings grew 52% year-over-year and came in six percentage points above consensus expectations, Murphy tells investors in a research note. He maintains an Overweight rating on Smartsheet shares.
06/06/19
JEFF
06/06/19
NO CHANGE
Target $52
JEFF
Buy
Smartsheet 'easily exceeded' fiscal Q1 estimates, says Jefferies
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.
04/12/19
NEED
04/12/19
INITIATION
Target $45
NEED
Buy
Smartsheet initiated with a Buy at Needham
Needham analyst Scott Berg initiated Smartsheet with a Buy rating and a price target of $45, citing the company position as a "early leader in a significant secular technology shift changing how employees manage work." The analyst believes that Work Management software is "in the early innings of a hyper growth phase" and can drive 30% ore more in subscription revenue growth at Smartsheet. While he sees valuation on the stock as high, Berg believes that the company's "unique combination of extended fast revenue growth and model profitability" warrants a premium.

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