In yesterday’s Wall Street session, Smartsheet Inc. (NYSE:SMAR) shares traded at $37.36, down -3.74% from the previous session.
22 analysts cover Smartsheet Inc. (NYSE:SMAR), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $36.00, we find $45.00. Given the previous closing price of $38.81, this indicates a potential upside of 15.95 percent. SMAR stock price is now 11.47% away from the 50-day moving average and -0.41% away from the 200-day moving average. The market capitalization of the company currently stands at $4.98B.
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The stock has received a hold rating from 5 analysts and a buy rating from 17. Brokers who have rated the stock have averaged $46.20 as their price target over the next twelve months.
With the price target of $45, Barclays recently initiated with Equal Weight rating for Smartsheet Inc. (NYSE: SMAR). On October 13, 2022, KeyBanc Capital Markets recently initiated its ‘Overweight’ rating on the stock quoting a target price of $46, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, Godbole Pete, CFO & Treasurer sold 2,256 shares of the company’s stock on Dec 14. The stock was sold for $93,308 at an average price of $41.36. Upon completion of the transaction, the CFO & Treasurer now directly owns 18,229 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 14, Chief Legal Officer Marshall Jolene Lau sold 1,366 shares of the business’s stock. A total of $56,498 was realized by selling the stock at an average price of $41.36. This leaves the insider owning 11,135 shares of the company worth $0.42 million. Insiders disposed of 360,466 shares of company stock worth roughly $13.47 million over the past 1 year. A total of 2.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SMAR stock. A new stake in Smartsheet Inc. shares was purchased by EMINENCE CAPITAL, LP during the first quarter worth $90,493,000. BAMCO INC /NY/ invested $19,268,000 in shares of SMAR during the first quarter. In the first quarter, WHALE ROCK CAPITAL MANAGEMENT LLC acquired a new stake in Smartsheet Inc. valued at approximately $18,769,000. AMUNDI acquired a new stake in SMAR for approximately $8,516,000. KADENSA CAPITAL LTD purchased a new stake in SMAR valued at around $5,990,000 in the second quarter. In total, there are 400 active investors with 92.30% ownership of the company’s stock.
On Tuesday morning Smartsheet Inc. (NYSE: SMAR) stock kicked off with the opening price of $38.30. During the past 12 months, Smartsheet Inc. has had a low of $25.09 and a high of $80.89. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for SMAR is $33.51 and a two-hundred day moving average price translates $37.51 for the stock.
The latest earnings results from Smartsheet Inc. (NYSE: SMAR) was released for Jul, 2022. According to the Software – Application Company, earnings per share came in at -$0.1, beating analysts’ expectations of -$0.2 by 0.1. This compares to -$0.29 EPS in the same period last year. The net profit margin was -31.70% and return on equity was -46.80% for SMAR. The company reported revenue of $199.58 million for the quarter, compared to $144.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.99 percent. For the current quarter, analysts expect SMAR to generate $193.59M in revenue.
Smartsheet Inc.(SMAR) Company Profile
Smartsheet Inc. provides cloud-based enterprise platform to plan, capture, manage, automate, and report on work for teams and organizations. The company offers Dashboards for real-time visibility into the status of work to align individuals, managers, and executives; Portals to locate and access from any device the resources available for a project without IT assistance; Cardview to organize, share, and act on workflows; and Grid to keep teams on task by tracking multiple moving parts. It also provides Reports that allow users to see and action their work in one centralized location; Projects, which offers interface with capabilities that foster collaboration among teams and organizations; Calendar that align teams and organizations by connecting deadlines to workflows; Forms to collect information in a structured and consistent format; Automated actions to automate repetitive processes; and Integrations to connect, sync, and extend existing enterprise applications across workflows to create work execution. The company offers WorkApps to build easy to navigate apps; Connectors for embedded integrations with industry-leading systems of record; Control Center to achieve consistent work execution; Dynamic View enables mixed internal and external teams to collaborate confidentially with vendors; Data Shuttle to upload or offload data between Smartsheet and other existing systems and databases; Bridge to build intelligent workflows and automate business processes across platforms; Resource Management; Brandfolder; and Premium Apps and Connectors, as well as Calendar, Pivot, and DataMesh apps, and Smartsheet Advance. It serves aerospace, automotive, biotechnology, consumer, e-commerce, education, finance, government, healthcare, IT services, marketing, media, travel, and other sectors. The company was formerly known as Smartsheet.com, Inc. and changed its name to Smartsheet Inc. in February 2017. The company was incorporated in 2005 and is based in Bellevue, Washington.
