Shares of Smartsheet Inc (NYSE:SMAR) have been given a consensus rating of “Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $35.17.
A number of research analysts recently issued reports on SMAR shares. Morgan Stanley decreased their price target on shares of Smartsheet from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of Smartsheet to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Canaccord Genuity lifted their price target on shares of Smartsheet from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Jefferies Financial Group lifted their price target on shares of Smartsheet to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Finally, SunTrust Banks lifted their price target on shares of Smartsheet to $37.00 and gave the stock a “positive” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call.
In other Smartsheet news, VP Kara Hamilton sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $23.10, for a total transaction of $693,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael Arntz sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $26.24, for a total transaction of $104,960.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,186 shares of company stock worth $2,899,314.
A number of hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group acquired a new stake in Smartsheet during the third quarter worth approximately $57,000. Clearbridge Investments LLC raised its holdings in Smartsheet by 1.4% during the third quarter. Clearbridge Investments LLC now owns 241,470 shares of the company’s stock worth $7,548,000 after purchasing an additional 3,290 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Smartsheet during the third quarter worth approximately $109,000. Victory Capital Management Inc. acquired a new stake in Smartsheet during the third quarter worth approximately $143,000. Finally, Verition Fund Management LLC acquired a new stake in Smartsheet during the third quarter worth approximately $225,000. 42.07% of the stock is currently owned by institutional investors.
Shares of Smartsheet stock opened at $24.31 on Friday. Smartsheet has a 52-week low of $18.06 and a 52-week high of $33.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.31 and a quick ratio of 2.31.
Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Monday, December 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The firm had revenue of $46.90 million during the quarter, compared to analysts’ expectations of $44.12 million. The company’s quarterly revenue was up 59.5% compared to the same quarter last year. On average, equities research analysts predict that Smartsheet will post -0.6 EPS for the current year.
Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.
Recommended Story: What is an investor looking for in an SEC filing?
Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.