Smartsheet (NYSE:SMAR) Given Outperform Rating at William Blair

Smartsheet (NYSE:SMARGet Rating)‘s stock had its “outperform” rating reaffirmed by stock analysts at William Blair in a research note issued on Friday, RTT News reports.

Several other research analysts also recently weighed in on SMAR. Oppenheimer cut their price target on Smartsheet from $80.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, June 8th. Truist Financial dropped their price target on Smartsheet from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. Morgan Stanley decreased their price objective on Smartsheet from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, September 2nd. Canaccord Genuity Group decreased their price target on Smartsheet from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, September 2nd. Finally, Moffett Nathanson started coverage on Smartsheet in a research note on Thursday. They set an “outperform” rating and a $50.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.31.

Smartsheet Price Performance

Smartsheet stock opened at $33.25 on Friday. The business has a 50 day moving average of $34.18 and a 200-day moving average of $39.55. Smartsheet has a 1 year low of $27.05 and a 1 year high of $80.89. The company has a market capitalization of $4.30 billion, a P/E ratio of -19.11 and a beta of 1.41.

Smartsheet (NYSE:SMARGet Rating) last issued its earnings results on Thursday, September 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. The company had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $180.56 million. Smartsheet had a negative return on equity of 42.47% and a negative net margin of 33.88%. Smartsheet’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period last year, the business earned ($0.28) EPS. Equities analysts anticipate that Smartsheet will post -2.03 EPS for the current year.

Insider Transactions at Smartsheet

In other news, Director Elena Gomez sold 6,250 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $30.47, for a total value of $190,437.50. Following the completion of the sale, the director now owns 6,003 shares of the company’s stock, valued at approximately $182,911.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Smartsheet news, Director Elena Gomez sold 6,250 shares of Smartsheet stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $30.47, for a total transaction of $190,437.50. Following the completion of the transaction, the director now owns 6,003 shares in the company, valued at approximately $182,911.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jolene Lau Marshall sold 5,000 shares of Smartsheet stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $31.77, for a total value of $158,850.00. Following the transaction, the insider now owns 17,597 shares of the company’s stock, valued at approximately $559,056.69. The disclosure for this sale can be found here. Insiders sold 28,854 shares of company stock valued at $1,007,898 in the last quarter. 4.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Smartsheet

Several large investors have recently bought and sold shares of SMAR. IronBridge Private Wealth LLC acquired a new position in shares of Smartsheet during the 4th quarter worth approximately $32,000. Ellevest Inc. raised its position in Smartsheet by 1,141.0% in the second quarter. Ellevest Inc. now owns 1,030 shares of the company’s stock valued at $32,000 after purchasing an additional 947 shares during the period. Cornerstone Advisory LLC purchased a new stake in shares of Smartsheet during the fourth quarter worth $39,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Smartsheet during the second quarter worth $49,000. Finally, Lazard Asset Management LLC increased its position in shares of Smartsheet by 44.7% during the second quarter. Lazard Asset Management LLC now owns 2,004 shares of the company’s stock worth $62,000 after acquiring an additional 619 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Company Profile

(Get Rating)

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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