In yesterday’s Wall Street session, Smartsheet Inc. (NYSE:SMAR) shares traded at $40.74, up 4.60% from the previous session.
As of this writing, 22 analysts cover Smartsheet Inc. (NYSE:SMAR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $60.00 and a low of $40.00, we find $50.00. Given the previous closing price of $38.95, this indicates a potential upside of 28.37 percent. SMAR stock price is now -3.79% away from the 50-day moving average and 2.04% away from the 200-day moving average. The market capitalization of the company currently stands at $5.49B.
There are 5 analysts who have given it a hold rating, whereas 17 have given it a buy rating. Brokers who have rated the stock have averaged $50.82 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).
In other news, GREGOIRE MICHAEL P, Director bought 3,800 shares of the company’s stock on Jun 13. The stock was bought for $149,644 at an average price of $39.38. Upon completion of the transaction, the Director now directly owns 15,301 shares in the company, valued at $0.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16, Chief Legal Officer Marshall Jolene Lau sold 1,051 shares of the business’s stock. A total of $46,570 was realized by selling the stock at an average price of $44.31. This leaves the insider owning 6,585 shares of the company worth $0.27 million. Insiders disposed of 153,394 shares of company stock worth roughly $6.25 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 CHAMPLAIN INVESTMENT PARTNERS, LLC during the first quarter worth $30,912,000. LORD, ABBETT & CO. LLC invested $28,267,000 in shares of SMAR during the first quarter. In the first quarter, EAM INVESTORS, LLC acquired a new stake in Smartsheet Inc. valued at approximately $10,342,000. 1832 ASSET MANAGEMENT L.P. acquired a new stake in SMAR for approximately $9,338,000. FULLER & THALER ASSET MANAGEMENT, INC. purchased a new stake in SMAR valued at around $9,194,000 in the second quarter. In total, there are 414 active investors with 92.30% ownership of the company’s stock.
Tuesday morning saw Smartsheet Inc. (NYSE: SMAR) opened at $39.08. During the past 12 months, Smartsheet Inc. has had a low of $25.09 and a high of $52.81. 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 $42.34 and a two-hundred day moving average price translates $39.96 for the stock.
The latest earnings results from Smartsheet Inc. (NYSE: SMAR) was released for Apr, 2023. According to the Software – Application Company, earnings per share came in at $0.18, beating analysts’ expectations of $0.07 by 0.11. This compares to -$0.55 EPS in the same period last year. The net profit margin was -21.40% and return on equity was -36.10% for SMAR. The company reported revenue of $219.89 million for the quarter, compared to $168.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.64 percent. For the current quarter, analysts expect SMAR to generate $229.47M in revenue.
Smartsheet Inc.(SMAR) Company Profile
Smartsheet Inc. provides enterprise platform to plan, capture, manage, automate, and report on work for teams and organizations. The company offers Smartsheet, which includes Dashboards, Cardview, Grid, Reports, Projects, Calendar, Forms, Automations, and Integrations; WorkApps enables customers to build user-friendly apps; Smartsheet Advance; Connectors provides embedded integrations with industry-leading systems of record; Control Center enables organizations to achieve consistent work execution; and Dynamic View enables business users to collaborate confidentially with vendors. The company provides Data Shuttle allows business users 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 enables businesses to plan and allocate resources; Brandfolder, a digital asset management solution; and Calendar, Pivot, and DataMesh apps. It serves aerospace, automotive, biotechnology, consumer, e-commerce, education, finance, government, healthcare, IT services, marketing, media, non-profit, publishing, software, technology, and travel sectors. The company was formerly known as Smartsheet.com, Inc. and changed its name to Smartsheet Inc. in February 2017. Smartsheet Inc. was incorporated in 2005 and is headquartered in Bellevue, Washington.
