From Financial Modeling Prep: 2024-11-11 08:06:00

Guggenheim analysts downgraded Smartsheet (NYSE:SMAR) from Buy to Neutral following the expiration of the “go-shop” period related to its proposed acquisition by Blackstone and Vista Equity Partners. The acquisition price values Smartsheet at roughly 6.7 times its next twelve months recurring revenue, with potential for higher valuation under new ownership. Multiple parties have shown interest in acquiring the company, highlighting its appeal. Guggenheim also withdrew its previous price target of $62 for Smartsheet.



Read more at Financial Modeling Prep:: Smartsheet Slashed to Neutral at Guggenheim