UPDATE: Smartsheet Inc. (SMAR) PT Raised to $29 at Canaccord Genuity

(updated to add analyst comment)

Canaccord Genuity raised its price target on Smartsheet Inc. (NYSE: SMAR) to $29.00 (from $23.00) while maintaining a Buy rating.

Ananlyst Richard Davis says the strong metrics, well-run business model and current valuation make the equity worth considering. The analyst comments "As we noted in our launch piece, SMAR likely will be an unexceptional stock if all the firm does is hit consensus forecasts, so we hope and expect that there will be continued upsides to the next several prints."

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