Smartsheet Inc (NYSE:SMAR) has been given an average recommendation of “Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.83.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Smartsheet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Morgan Stanley increased their price objective on Smartsheet from $24.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, June 6th. Canaccord Genuity reiterated a “buy” rating and set a $29.00 price objective (up from $23.00) on shares of Smartsheet in a research report on Tuesday, June 5th. Jefferies Financial Group increased their price objective on Smartsheet to $31.00 and gave the company a “buy” rating in a research report on Tuesday, June 5th. Finally, Royal Bank of Canada assumed coverage on Smartsheet in a research report on Tuesday, May 22nd. They set an “outperform” rating and a $24.00 price objective on the stock.
NYSE SMAR traded down $0.35 during trading on Friday, reaching $25.87. The company’s stock had a trading volume of 213,488 shares, compared to its average volume of 277,919. The company has a debt-to-equity ratio of -0.03, a quick ratio of 0.83 and a current ratio of 0.83. Smartsheet has a one year low of $18.06 and a one year high of $32.79.
Smartsheet (NYSE:SMAR) last announced its earnings results on Monday, June 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $36.30 million during the quarter, compared to the consensus estimate of $33.24 million. The business’s quarterly revenue was up 63.5% on a year-over-year basis. equities analysts anticipate that Smartsheet will post -0.69 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Insight Holdings Group LLC bought a new position in shares of Smartsheet during the 2nd quarter valued at about $746,144,000. Summit Partners L P bought a new position in shares of Smartsheet during the 2nd quarter valued at about $62,552,000. BlackRock Inc. bought a new position in shares of Smartsheet during the 2nd quarter valued at about $17,635,000. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Smartsheet during the 2nd quarter valued at about $13,242,000. Finally, Federated Investors Inc. PA bought a new position in shares of Smartsheet during the 2nd quarter valued at about $11,687,000. Hedge funds and other institutional investors own 2.95% of the company’s stock.
Smartsheet Company Profile
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.
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