Needham & Company LLC restated their buy rating on shares of Smartsheet (NYSE:SMAR) in a research note published on Thursday, Briefing.com Automated Import reports. Needham & Company LLC currently has a $60.00 price objective on the stock, up from their previous price objective of $45.00.
Several other brokerages also recently issued reports on SMAR. JPMorgan Chase & Co. set a €23.00 ($26.74) price objective on shares of GEA Group Aktiengesellschaft and gave the stock a neutral rating in a research note on Wednesday, March 20th. Stephens reaffirmed a buy rating and issued a $34.00 target price on shares of Guaranty Bancshares in a research report on Tuesday, April 23rd. Oppenheimer raised their target price on Recro Pharma from $9.00 to $15.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Royal Bank of Canada set a GBX 1,750 ($22.87) target price on Prudential and gave the stock a neutral rating in a research report on Wednesday, March 20th. Finally, Morgan Stanley raised Nevro from an underweight rating to an overweight rating and raised their target price for the stock from $41.00 to $70.00 in a research report on Wednesday, March 20th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $52.36.
Shares of Smartsheet stock opened at $54.11 on Thursday. The business has a fifty day moving average of $46.89. The firm has a market capitalization of $5.65 billion, a P/E ratio of -87.27 and a beta of 2.01. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 1.63. Smartsheet has a 1 year low of $20.34 and a 1 year high of $54.44.
Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.15. The business had revenue of $56.19 million for the quarter, compared to the consensus estimate of $54.65 million. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. Smartsheet’s quarterly revenue was up 54.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. On average, analysts anticipate that Smartsheet will post -0.97 earnings per share for the current year.
In other Smartsheet news, Director Elena Gomez sold 2,500 shares of Smartsheet stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $39.70, for a total transaction of $99,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Michael Arntz sold 4,000 shares of Smartsheet stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $40.25, for a total value of $161,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,958,389 shares of company stock valued at $477,654,521. 24.73% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SMAR. Whale Rock Capital Management LLC raised its holdings in shares of Smartsheet by 320.6% in the fourth 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. CI Investments Inc. bought a new position in shares of Smartsheet in the fourth quarter valued at about $40,607,000. FMR LLC raised its holdings in shares of Smartsheet by 754,292.5% in the first quarter. FMR LLC now owns 1,214,572 shares of the company’s stock valued at $49,542,000 after buying an additional 1,214,411 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Smartsheet in the first quarter valued at about $22,129,000. Finally, Massachusetts Institute of Technology bought a new position in shares of Smartsheet in the fourth quarter valued at about $8,923,000. 56.63% of the stock is owned by institutional investors.
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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