Canaccord Genuity Maintains Buy on Smartsheet, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst David Hynes maintains a Buy rating on Smartsheet (NYSE:SMAR) but lowers the price target from $55 to $45.

March 18, 2024 | 11:21 am
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Canaccord Genuity maintains a Buy rating on Smartsheet but lowers the price target from $55 to $45.
The reduction in the price target from $55 to $45 by Canaccord Genuity, despite maintaining a Buy rating, could lead to a negative short-term sentiment among investors. This adjustment suggests that while the analyst remains optimistic about Smartsheet's long-term prospects, there may be concerns about its near-term performance or valuation that could pressure the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100