Credit Suisse starts Smartsheet with 'neutral' rating

Smartsheet

23/09/2022 13:25

** Credit Suisse begins coverage of enterprise software co
Smartsheet Inc  SMAR.N  with "neutral" rating and $40 PT
    ** Target about 14% higher than current price
    ** Key stand-outs are SMAR's industry-leading penetration in
project management software market, and its ability to customize
solutions - CS
    ** SMAR has 10 mln users, 1,220 enterprise customers with
over $100 mln average revenue run-rate, according to CS
    ** Says co's valuation is "reasonable" at current levels
    ** As of last close, SMAR down ~56% YTD
 (Reporting by Yuvraj Malik)
 ((yuvraj.malik@thomsonreuters.com))