The stock of Smartsheet Inc. (NYSE:SMAR) last traded at $43.03, up 6.62% from the previous session.
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 $55.00. Given the previous closing price of $40.36, this indicates a potential upside of 36.27 percent. SMAR stock price is now 5.42% away from the 50-day moving average and 3.10% away from the 200-day moving average. The market capitalization of the company currently stands at $5.39B.
Brokers who have rated the stock have averaged $52.44 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 $0.66 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 $0.28 million. Insiders disposed of 138,206 shares of company stock worth roughly $5.95 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 ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $24,789,000. ARTISAN PARTNERS LIMITED PARTNERSHIP invested $17,349,000 in shares of SMAR during the first quarter. In the first quarter, MAN GROUP PLC acquired a new stake in Smartsheet Inc. valued at approximately $15,515,000. MARSHALL WACE, LLP acquired a new stake in SMAR for approximately $13,721,000. J. GOLDMAN & CO LP purchased a new stake in SMAR valued at around $9,023,000 in the second quarter. In total, there are 461 active investors with 92.30% ownership of the company’s stock.
With an opening price of $45.81 on Friday morning, Smartsheet Inc. (NYSE: SMAR) set off the trading day. 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 $40.90 and a two-hundred day moving average price translates $41.81 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 $0.16, beating analysts’ expectations of $0.07 by 0.09. This compares to -$0.55 EPS in the same period last year. The net profit margin was -26.30% and return on equity was -44.40% 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 $241.24M in revenue.
