DA Davidson Starts Smartsheet Inc. (SMAR) at Buy, 'we believe the market has mispriced SMAR'

DA Davidson analyst Gil Luria initiates coverage on Smartsheet Inc. (NYSE: SMAR) with a Buy rating and a price target of $65.00.

The analyst comments "After attending meetings with CEO Mark Mader and VP IR Aaron Turner, we feel confidence in Smartsheet's ability to continue leading the work management space while starting to flex its ability to drive margins with scale. Smartsheet has the largest presence in big enterprise customers among its peers, and is starting to dial in its ability to harvest this opportunity. With a fresh set of eyes on the story, we believe the market has mispriced SMAR and see a significant re-rating opportunity as the story plays out."

For an analyst ratings summary and ratings history on Smartsheet Inc. click here. For more ratings news on Smartsheet Inc. click here.

Shares of Smartsheet Inc. closed at $46.52 yesterday.

You May Also Be Interested In

• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
• Applied Industrial Technologies (AIT) PT Raised to $400 at DA Davidson