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Stock Alert: Smartsheet Jumps 10%

Shares of cloud-based work management platform provider Smartsheet Inc. (SMAR) are up more than 10% Wednesday morning at $54.08. It has traded in the range of $30.91- $60.54 in the past one year.

On Monday the company said it has agreed to buy Brandfolder, digital asset management (DAM) platform provider for about $155 million, in cash and stock.

"Brandfolder's content capabilities coupled with Smartsheet's powerful workflow and collaboration features will provide teams with a dynamic solution to securely manage, share, and publish their content, empowering cross team and organization collaboration," said Mark Mader, CEO of Smartsheet.

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