Smartsheet (NYSE:SMAR) PT Lowered to $51.00 at KeyCorp

Smartsheet (NYSE:SMAR) had its price objective cut by KeyCorp from $53.00 to $51.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently commented on SMAR. Royal Bank of Canada cut their price target on shares of Smartsheet from $48.00 to $36.00 and set a sector perform rating for the company in a research note on Friday. Needham & Company LLC reissued a buy rating and set a $57.00 price objective on shares of Smartsheet in a research note on Friday. Citigroup upgraded shares of Smartsheet from a neutral rating to a buy rating and increased their target price for the stock from $56.00 to $63.00 in a report on Thursday, January 11th. Oppenheimer dropped their target price on shares of Smartsheet from $60.00 to $55.00 and set an outperform rating for the company in a research report on Friday. Finally, BMO Capital Markets dropped their price target on Smartsheet from $48.00 to $42.00 and set an outperform rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $50.18.

Smartsheet Stock Up 3.0 %

SMAR stock traded up $1.13 during trading on Friday, reaching $38.65. The stock had a trading volume of 3,173,685 shares, compared to its average volume of 1,431,101. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -48.92 and a beta of 0.75. The company’s 50 day moving average is $44.35 and its two-hundred day moving average is $43.18. Smartsheet has a one year low of $35.52 and a one year high of $52.81.

Smartsheet (NYSE:SMAR) last released its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.17. The business had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 17.12% and a negative net margin of 10.92%. As a group, research analysts predict that Smartsheet will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Smartsheet

In related news, CRO Michael Arntz sold 7,572 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $44.81, for a total value of $339,301.32. Following the completion of the sale, the executive now owns 7,148 shares of the company’s stock, valued at $320,301.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the sale, the insider now directly owns 12,129 shares of the company’s stock, valued at approximately $546,168.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Michael Arntz sold 7,572 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total value of $339,301.32. Following the completion of the sale, the executive now owns 7,148 shares of the company’s stock, valued at approximately $320,301.88. The disclosure for this sale can be found here. Insiders sold 19,698 shares of company stock valued at $902,656 over the last 90 days. 4.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Smartsheet

A number of large investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Smartsheet during the 4th quarter worth approximately $33,000. Allworth Financial LP grew its holdings in Smartsheet by 2,503.4% in the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after buying an additional 726 shares during the period. Castleview Partners LLC purchased a new stake in shares of Smartsheet during the 3rd quarter valued at $39,000. American International Group Inc. boosted its position in Smartsheet by 23.3% during the 2nd quarter. American International Group Inc. now owns 2,332 shares of the company’s stock worth $89,000 after purchasing an additional 441 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in Smartsheet in the 3rd quarter worth approximately $105,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Smartsheet Company Profile

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.