Truist downgraded Smartsheet (SMAR) to Hold from Buy with a price target of $56.50, down from $60, after Blackstone (BX) and Vista Equity Partners’ agreement to acquire the company in an all-cash transaction that values Smartsheet at $56.50 per share. The firm’s downgrade assumes this likely represents the best and final offer with no competitive, higher bids forthcoming, the analyst tells investors.
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- Monday.com price target raised to $300 from $250 at DA Davidson
- Smartsheet price target raised to $56.50 from $51 at RBC Capital
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- Smartsheet downgraded to Hold from Buy at Canaccord