Smartsheet's Future Prospects: Analyst Sees Larger Customers And AI As Long-Term Growth Drivers
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Keith Bachman reiterated an Outperform rating on Smartsheet Inc. (NYSE:SMAR), raising the price target to $50 from $44. The company reported Q2 FY24 revenue growth of 26% Y/Y to $235.6 million, beating the consensus of $229.51 million. Bachman sees new AI offerings and monetization strategies as potential growth drivers for SMAR, and expects some modest upside to the October quarter.
September 08, 2023 | 7:40 pm
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POSITIVE IMPACT
Smartsheet's Q2 FY24 revenue growth exceeded expectations and the company's price target has been raised by BMO Capital Markets analyst. New AI offerings and monetization strategies are seen as potential growth drivers.
The news of Smartsheet's Q2 FY24 revenue growth exceeding expectations and the raised price target by BMO Capital Markets analyst is positive for the company. The mention of new AI offerings and monetization strategies as potential growth drivers also indicates a positive outlook for the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100