Smartsheet Analysts Boost Their Forecasts After Upbeat Earnings

Smartsheet Inc. SMAR reported better-than-expected third-quarter earnings and raised its FY24 revenue outlook on Thursday.

Smartsheet posted adjusted earnings of 16 cents per share, topping market estimates of 9 cents per share. The company’s quarterly sales came in at $245.92 million versus expectations of $241.69 million, according to Benzinga Pro.

Smartsheet shares gained 0.4% to trade at $45.05 on Friday.

These analysts made changes to their price targets on Smartsheet following earnings announcement.

• Keybanc raised the price target on Smartsheet from $52 to $53. Keybanc analyst Jason Celino maintained an Overweight rating.
• Canaccord Genuity increased the price target on Smartsheet from $53 to $55. Canaccord Genuity analyst David Hynes maintained a Buy rating.
• Truist Securities increased the price target on Smartsheet from $50 to $55. Truist Securities analyst Terry Tillman maintained a Buy rating.

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