Smartsheet (SMAR) – Investment Analysts’ Weekly Ratings Updates

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A number of firms have modified their ratings and price targets on shares of Smartsheet (NYSE: SMAR) recently:

  • 3/22/2019 – Smartsheet was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $51.00 price target on the stock. According to Zacks, “Smartsheet Inc. provides software solutions. It offers mobile applications, pre-built templates and integrations with cloud applications such as Box, Dropbox, Salesforce, Google Drive and Zapier. Smartsheet Inc is based in Washington, United States. “
  • 3/21/2019 – Smartsheet is now covered by analysts at DA Davidson. They set a “neutral” rating and a $45.00 price target on the stock.
  • 3/20/2019 – Smartsheet had its price target raised by analysts at SunTrust Banks, Inc. to $56.00. They now have a “positive” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 3/20/2019 – Smartsheet had its price target raised by analysts at Morgan Stanley from $34.00 to $58.00. They now have an “overweight” rating on the stock.
  • 3/20/2019 – Smartsheet had its price target raised by analysts at JPMorgan Chase & Co. from $33.00 to $45.00. They now have an “overweight” rating on the stock.
  • 3/20/2019 – Smartsheet had its price target raised by analysts at Royal Bank of Canada to $53.00. They now have an “outperform” rating on the stock.
  • 3/20/2019 – Smartsheet had its price target raised by analysts at Jefferies Financial Group Inc from $38.00 to $52.00. They now have a “buy” rating on the stock.
  • 3/20/2019 – Smartsheet had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $53.00 price target on the stock, up previously from $35.00.
  • 2/5/2019 – Smartsheet was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Smartsheet Inc. provides software solutions. It offers mobile applications, pre-built templates and integrations with cloud applications such as Box, Dropbox, Salesforce, Google Drive and Zapier. Smartsheet Inc is based in Washington, United States. “

SMAR traded down $4.04 on Friday, reaching $41.62. 4,504,273 shares of the stock were exchanged, compared to its average volume of 1,052,169. Smartsheet Inc has a fifty-two week low of $18.06 and a fifty-two week high of $49.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market cap of $4.74 billion and a P/E ratio of -67.13.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.12. Smartsheet had a negative return on equity of 60.68% and a negative net margin of 30.32%. The company had revenue of $52.20 million during the quarter, compared to analysts’ expectations of $49.72 million. The business’s quarterly revenue was up 58.2% on a year-over-year basis. Analysts predict that Smartsheet Inc will post -0.73 EPS for the current fiscal year.

In other Smartsheet news, Director Brent Frei sold 50,000 shares of Smartsheet stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $25.03, for a total transaction of $1,251,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Michael Arntz sold 14,000 shares of Smartsheet stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $44.21, for a total value of $618,940.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 871,133 shares of company stock valued at $28,514,208.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Smartsheet by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 104,097 shares of the company’s stock valued at $2,587,000 after buying an additional 1,523 shares during the last quarter. Norges Bank purchased a new position in shares of Smartsheet during the 4th quarter valued at about $3,729,000. CI Investments Inc. purchased a new position in shares of Smartsheet during the 4th quarter valued at about $40,607,000. Legal & General Group Plc purchased a new position in shares of Smartsheet during the 4th quarter valued at about $961,000. Finally, Whale Rock Capital Management LLC raised its stake in shares of Smartsheet by 320.6% during the 4th quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock valued at $66,824,000 after buying an additional 2,048,846 shares during the last quarter. Institutional investors and hedge funds own 49.63% of the company’s stock.

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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