15 Analysts Have This To Say About Smartsheet
Portfolio Pulse from Benzinga Insights
15 analysts have updated their ratings on Smartsheet (NYSE:SMAR), showing a mix of sentiments from bullish to bearish. The average 12-month price target has been lowered to $48.4, a decrease of 11.76%. Analysts have adjusted their ratings and price targets, reflecting a negative shift in sentiment towards Smartsheet. Despite this, Smartsheet has shown a revenue growth rate of 23.22% as of October 31, 2023, but faces challenges in profitability and efficiency metrics compared to industry averages.
March 18, 2024 | 5:00 pm
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NEGATIVE IMPACT
Smartsheet's stock may face short-term pressure due to the negative shift in analyst sentiment and lowered price targets, despite showing strong revenue growth.
The decrease in the average price target by 11.76% and the adjustments in ratings by multiple analysts indicate a negative sentiment shift, which could lead to short-term pressure on SMAR's stock price. However, the company's strong revenue growth rate of 23.22% as of October 31, 2023, suggests underlying business strength, which might mitigate some of the negative impacts over time.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100