Market Trends Favorable For Smartsheet's Upmarket Strategy

Apr. 24, 2023 5:02 AM ETSmartsheet Inc. (SMAR) StockMNDY, SMAR
Arbab Shahzeb
622 Followers

Summary

  • Smartsheet is a cloud-based platform for managing unstructured or ad hoc projects.
  • Smartsheet Advance has contributed to consistently high DBNRR rates of over 120% in the enterprise market.
  • The upmarket sales motion is gaining traction, and there is a significant greenfield opportunity for growth.
  • I assign a buy rating to SMAR stock with an end-of-year price target of $51.8.
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Thesis

Despite consistently exceeding expectations and providing an optimistic outlook for the future, Smartsheet Inc. (SMAR) shares have underperformed compared to NASDAQ over the past year. The likely reasons for this are concerns about the company's enterprise go-to-market strategy, which has

This article was written by

622 Followers
MBA Student with three years of experience in sell-side. I focus on value opportunities in the market that provide a deep margin of safety.

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