Smartsheet Inc (NYSE:SMAR) – Research analysts at Wedbush lifted their FY2021 earnings estimates for shares of Smartsheet in a research report issued on Monday, November 11th. Wedbush analyst S. Koenig now anticipates that the company will post earnings of ($1.09) per share for the year, up from their previous estimate of ($1.10). Wedbush currently has a “Neutral” rating and a $42.00 target price on the stock. Wedbush also issued estimates for Smartsheet’s FY2022 earnings at ($1.15) EPS.
A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Canaccord Genuity reduced their price target on Smartsheet from $53.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Stephens reaffirmed a “buy” rating and issued a $55.00 price target on shares of Smartsheet in a report on Tuesday, September 10th. Oppenheimer reduced their price target on Smartsheet from $58.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, DA Davidson reduced their price target on Smartsheet to $38.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $50.07.
NYSE SMAR opened at $38.98 on Wednesday. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of -62.87 and a beta of 1.95. Smartsheet has a twelve month low of $20.34 and a twelve month high of $55.79. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $38.68 and a 200 day moving average of $44.53.
Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.09. The business had revenue of $64.64 million during the quarter, compared to analysts’ expectations of $63.55 million. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The company’s revenue for the quarter was up 52.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS.
Institutional investors have recently made changes to their positions in the business. Meadow Creek Investment Management LLC raised its holdings in shares of Smartsheet by 76.9% during the second quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock valued at $89,000 after acquiring an additional 800 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in shares of Smartsheet during the second quarter valued at approximately $93,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Smartsheet during the second quarter valued at approximately $111,000. Systematic Financial Management LP acquired a new position in shares of Smartsheet during the second quarter valued at approximately $118,000. Finally, Neuburgh Advisers LLC raised its holdings in shares of Smartsheet by 76.9% during the second quarter. Neuburgh Advisers LLC now owns 2,530 shares of the company’s stock valued at $122,000 after acquiring an additional 1,100 shares during the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.
In other Smartsheet news, CFO Jennifer Ceran sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $37.07, for a total transaction of $1,853,500.00. Also, CEO Mark Patrick Mader sold 30,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $37.87, for a total value of $1,136,100.00. Following the transaction, the chief executive officer now directly owns 941,636 shares of the company’s stock, valued at approximately $35,659,755.32. The disclosure for this sale can be found here. Insiders have sold 799,172 shares of company stock valued at $32,801,758 in the last three months. Insiders own 24.73% 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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