SharpSpring (SHSP) Price Target Raised to $8.00 at Lake Street Capital

SharpSpring (NASDAQ:SHSP) had its price objective increased by investment analysts at Lake Street Capital to $8.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective points to a potential upside of 18.52% from the company’s previous close.

Several other research analysts also recently commented on the company. ValuEngine upgraded SharpSpring from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded SharpSpring from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th.

Shares of NASDAQ SHSP opened at $6.75 on Wednesday. SharpSpring has a 52 week low of $3.07 and a 52 week high of $7.64. The stock has a market capitalization of $57.74 million, a price-to-earnings ratio of -11.44 and a beta of -2.72.

SharpSpring (NASDAQ:SHSP) last issued its earnings results on Tuesday, March 6th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.10. SharpSpring had a negative return on equity of 21.87% and a negative net margin of 37.00%. The business had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.61 million.

A hedge fund recently bought a new stake in SharpSpring stock. Essex Investment Management Co. LLC bought a new position in SharpSpring, Inc (NASDAQ:SHSP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 53,660 shares of the technology company’s stock, valued at approximately $236,000. Essex Investment Management Co. LLC owned 0.64% of SharpSpring as of its most recent SEC filing. 20.01% of the stock is currently owned by institutional investors.

About SharpSpring

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

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