3 Stocks to Buy According to Eduardo Costa’s Calixto Global Investors

1. Smartsheet Inc. (NYSE:SMAR)

Calixto Global Investors’ Stake Value: $35,826,000
Percentage of Calixto Global Investors’ Portfolio: 23.92%
Number of Hedge Fund Holders: 45

Smartsheet Inc. (NYSE:SMAR) creates and develops a cloud-based platform for job management. According to Insider Monkey’s Q1 data, 45 hedge funds were bullish on Smartsheet Inc. (NYSE:SMAR), compared to 59 funds in the earlier quarter.

On June 8, Rishi Jaluria, an RBC Capital analyst, maintained a Sector Perform rating on Smartsheet Inc. (NYSE:SMAR) while increasing his price objective to $38 from $34. Michael Kahan and Jeremy Kahan’s North Peak Capital was a significant shareholder of Smartsheet Inc. (NYSE:SMAR) in the first quarter of 2022, with a position worth over $207.41 million.

Securities filings for Q1 2022 reveal that Calixto Global Investors owned 653,992 shares of Smartsheet Inc. (NYSE:SMAR), worth $35.83 million, representing 23.92% of the 13F holdings. The hedge fund elevated its position in Smartsheet Inc. (NYSE:SMAR) by 35%.

Here is what Alger, an investment management firm, has to say about Smartsheet Inc. (NYSE:SMAR) in its Q4 2021 investor letter:

“Smartsheet provides a cloud based-based platform for work management that lets employees plan and manage their work using grids, projects, cards and calendars. It enhances enterprise productivity and as such is a Positive Dynamic Change beneficiary of corporate America’s rapid digitization. We believe even as employees return to the office, demand for work management software is persistent and durable. The strong value proposition was evident in Smartsheet’s recent quarter as revenue growth and billings accelerated relative to recent periods driven by an increased mix toward upmarket enterprise level customers. Additionally, management provided guidance for next fiscal year of 37% to 40% billings growth versus a 26% consensus expectation.”

You can also take a peek at 10 Stocks to Buy According to BlueSpruce Investments and 10 Stocks to Buy According to Kevin McCarthy’s Breakline Capital.

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