Weekly Investment Analysts’ Ratings Updates for Smartsheet (SMAR)

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

  • 9/18/2018 – Smartsheet had its price target raised by analysts at Morgan Stanley from $34.00 to $36.00. They now have an “overweight” rating on the stock.
  • 9/5/2018 – Smartsheet had its price target raised by analysts at SunTrust Banks, Inc. to $37.00. 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.
  • 9/5/2018 – Smartsheet had its price target raised by analysts at JPMorgan Chase & Co. to $33.00. They now have an “overweight” rating on the stock.
  • 9/5/2018 – Smartsheet had its price target raised by analysts at Royal Bank of Canada to $39.00. They now have an “outperform” rating on the stock.
  • 9/5/2018 – Smartsheet had its price target raised by analysts at Canaccord Genuity from $29.00 to $35.00. They now have a “buy” rating on the stock.
  • 9/5/2018 – Smartsheet had its price target raised by analysts at Jefferies Financial Group Inc to $38.00. They now have a “buy” rating on the stock.
  • 8/7/2018 – Smartsheet was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “

Shares of SMAR stock traded up $0.26 on Wednesday, reaching $30.14. The company’s stock had a trading volume of 293,700 shares, compared to its average volume of 379,558. Smartsheet Inc has a 1 year low of $18.06 and a 1 year high of $33.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.31 and a quick ratio of 2.31.

Smartsheet (NYSE:SMAR) last posted its earnings results on Tuesday, September 4th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. The business had revenue of $42.38 million during the quarter, compared to analysts’ expectations of $39.21 million. Smartsheet’s revenue was up 58.9% compared to the same quarter last year. research analysts forecast that Smartsheet Inc will post -0.68 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in Smartsheet during the second quarter worth $230,000. Russell Investments Group Ltd. purchased a new position in Smartsheet during the second quarter worth $275,000. Systematic Financial Management LP purchased a new position in Smartsheet during the second quarter worth $307,000. Cubist Systematic Strategies LLC purchased a new position in Smartsheet during the second quarter worth $316,000. Finally, Brighton Jones LLC purchased a new position in Smartsheet during the second quarter worth $440,000. 41.63% of the stock is owned by institutional investors.

Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.

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