KeyBanc Launches Coverage on, Smartsheet, Asana in Work Management Software Category

  • KeyBanc analyst Jason Celino kicked off coverage of Ltd (NASDAQ: MNDY) with a rating of overweight and Price target of $135.

  • He believes is best positioned to sustain growth of more than 30% for at least the next two years among its labor management peers.

  • He believes the company’s modular Work OS platform strategy provides business and competitive differentiation.

  • The price target reflected a premium in line with other SaaS growing by more than 30%.

  • Celino initiated the coverage of Smartsheet Inc (NYSE: SMAR) with a rating of overweight and $46 price target.

  • He thinks Smartsheet is poised to become a top performer in the work management software category.

  • With one of the most apparent paths to profitability among its labor management peers, it has seen understated high growth + a history of improving margins.

  • Celino initiated the coverage of Asana, Inc. (NYSE: ASAN) with a Sector weight rating.

  • CEO Dustin Moskovitz has potentially set Asana on an ambitious path to winning the work management software category.

  • With its disruptive platform strategy, company momentum, and multiple mentions of wall-to-wall customer deployments, he thinks Asana is doing well.

  • Despite the market pullback and valuation, he saw a risk-reward balance.

  • Price action: Shares of MNDY traded up 1.08% at $95.07 when last checked on Thursday.

  • Photo via company

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