2024-01-23 22:53:49 ET
Summary
- I continue to expect growth to revert back to 30% as it gains market share from Excel users and converts free users to paid.
- Smartsheet's financial performance is exceeding expectations, with subscription revenue growing 24.9% and gross margin expanding to 83.7%.
- A long-term DCF model suggests a target price of $81 for SMAR, reflecting its strong growth and improving profit margin.
Summary
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Smartsheet: Continuous Penetration Within Customer Base, With Improving Margin Profile