JP Morgan Downgrades Smartsheet to Neutral, Lowers Price Target to $56.5
Portfolio Pulse from Benzinga Newsdesk
JP Morgan has downgraded Smartsheet from Overweight to Neutral and reduced its price target from $60 to $56.5.
September 24, 2024 | 9:18 pm
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NEGATIVE IMPACT
JP Morgan analyst Pinjalim Bora downgraded Smartsheet from Overweight to Neutral, reducing the price target from $60 to $56.5. This suggests a less optimistic outlook on the stock's performance.
The downgrade from Overweight to Neutral by a major financial institution like JP Morgan indicates a shift in sentiment, which could lead to a decrease in investor confidence and a potential short-term decline in the stock price. The lowered price target further supports this negative outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100