Smartsheet Inc (NYSE:SMAR) has received a consensus rating of “Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $48.90.
A number of equities analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Smartsheet in a research note on Thursday. They issued a “buy” rating and a $45.00 price target on the stock. Oppenheimer initiated coverage on shares of Smartsheet in a report on Thursday, April 4th. They set an “outperform” rating and a $50.00 price objective for the company. Zacks Investment Research lowered shares of Smartsheet from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. DA Davidson started coverage on shares of Smartsheet in a report on Thursday, March 21st. They set a “neutral” rating and a $45.00 price objective for the company. Finally, SunTrust Banks raised their price target on shares of Smartsheet to $56.00 and gave the company a “positive” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call.
NYSE:SMAR opened at $41.00 on Friday. The company has a market cap of $4.25 billion and a P/E ratio of -66.13. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Smartsheet has a 52-week low of $18.06 and a 52-week high of $49.04.
Smartsheet (NYSE:SMAR) last announced its earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.12. The company had revenue of $52.20 million for the quarter, compared to the consensus estimate of $49.72 million. Smartsheet had a negative return on equity of 49.01% and a negative net margin of 30.32%. The firm’s revenue for the quarter was up 58.2% compared to the same quarter last year. On average, research analysts expect that Smartsheet will post -1 EPS for the current fiscal year.
In other news, CRO Michael Arntz sold 3,055 shares of Smartsheet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $49.00, for a total transaction of $149,695.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Patrick Mader sold 30,000 shares of Smartsheet stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $38.16, for a total transaction of $1,144,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,405,309 shares of company stock valued at $51,790,394 in the last ninety days.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caz Investments LP lifted its holdings in shares of Smartsheet by 100.0% during the fourth quarter. Caz Investments LP now owns 1,200 shares of the company’s stock worth $30,000 after purchasing an additional 600 shares during the period. Neuburgh Advisers LLC grew its holdings in Smartsheet by 90.9% in the 4th quarter. Neuburgh Advisers LLC now owns 1,386 shares of the company’s stock valued at $34,000 after buying an additional 660 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in Smartsheet in the 4th quarter valued at $36,000. Intellectus Partners LLC purchased a new stake in Smartsheet in the 4th quarter valued at $37,000. Finally, Flinton Capital Management LLC grew its holdings in Smartsheet by 90.9% in the 4th quarter. Flinton Capital Management LLC now owns 2,142 shares of the company’s stock valued at $53,000 after buying an additional 1,020 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors.
Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.
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