William Blair analyst Jake Roberge has maintained their bullish stance on SMAR stock, giving a Buy rating today.
Jake Roberge has given his Buy rating due to a combination of factors that suggest Smartsheet’s potential for growth and market leadership despite the current macroeconomic headwinds. Smartsheet’s solid performance in the fourth quarter exceeded consensus estimates on all key metrics, which indicates a robust underlying business. Although the fiscal 2025 revenue and ARR guidance was somewhat conservative, falling below expectations, this prudence appears to be a strategic response to the ongoing macro pressures and a leadership transition in their go-to-market strategy. Roberge seems to acknowledge that if external conditions improve or if the transition is executed smoothly, there could be significant upward potential in the company’s performance.
Additionally, the sustained demand for Smartsheet’s capabilities-based offerings, which now account for a significant portion of subscription revenue, underscores the company’s strong value proposition in the enterprise Work Management space. The momentum observed with the new Self Discovery motion, especially in terms of incremental bookings and attracting first-time capability purchasers, suggests a growing market interest. Overall, Roberge’s optimism is rooted in the belief that Smartsheet is strategically positioned to drive long-term growth and margin expansion, reinforcing the Buy rating despite the short-term uncertainties.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $50.00 price target.
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Smartsheet (SMAR) Company Description:
Smartsheet, Inc. engages in the design and development of cloud-based platform for work management. It offers ways for customers to plan and manage their work using grids, projects, cards, and calendars. The company was founded by W. Eric Browne, Maria Colacurcio, John D. Creason, and Brent R. Frei in 2005 and is headquartered in Bellevue, WA.
Read More on SMAR:
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- Smartsheet Leadership Transition and New Executive Compensation
- Smartsheet (SMAR) Q4 Earnings Cheat Sheet
- Smartsheet price target lowered to $48 from $52 at BMO Capital
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