- DA Davidson analyst Robert Simmons initiated coverage of Smartsheet Inc (NYSE:SMAR) with a Buy and price target of $100, suggesting an upside of 36.4%.
- Simmons sees Smartsheet as the leading work management provider, as the company has established “beachheads” in a wide range of customers.
- Simmons notes, with what he believes will be long-term solid margins and a significant market opportunity ahead, he views the stock as undervalued at current levels.
- Smartsheet provides a cloud-based platform for work execution that enables teams and organizations to plan, capture, manage, automate, and report on work at a scale that results in more efficient processes and better business outcomes.
- Price Action: SMAR shares traded higher by 1.64% at $74.52 in the premarket session on the last check Wednesday.
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