Smartsheet (NYSE:SMAR – Get Rating) had its target price increased by research analysts at BMO Capital Markets from $41.00 to $50.00 in a note issued to investors on Wednesday, The Fly reports. BMO Capital Markets’ price target indicates a potential upside of 7.99% from the stock’s previous close.
A number of other equities analysts have also commented on SMAR. KeyCorp lifted their price target on shares of Smartsheet from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, March 1st. Barclays began coverage on shares of Smartsheet in a research note on Thursday, December 15th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Smartsheet from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, December 2nd. DA Davidson raised their price objective on shares of Smartsheet from $40.00 to $45.00 in a research note on Friday, December 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Smartsheet from $32.00 to $36.00 in a research note on Friday, December 2nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.89.
Smartsheet Stock Up 2.6 %
NYSE:SMAR opened at $46.30 on Wednesday. Smartsheet has a 12 month low of $25.09 and a 12 month high of $58.22. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of -26.31 and a beta of 1.07. The company’s 50 day moving average is $43.06 and its 200-day moving average is $37.41.
Institutional Investors Weigh In On Smartsheet
Several institutional investors and hedge funds have recently made changes to their positions in SMAR. Belpointe Asset Management LLC bought a new position in shares of Smartsheet in the fourth quarter valued at about $25,000. Wipfli Financial Advisors LLC bought a new position in shares of Smartsheet in the third quarter valued at about $30,000. UMB Bank n.a. bought a new position in shares of Smartsheet in the fourth quarter valued at about $32,000. Signaturefd LLC raised its holdings in shares of Smartsheet by 57.1% in the third quarter. Signaturefd LLC now owns 1,073 shares of the company’s stock valued at $37,000 after buying an additional 390 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Smartsheet by 200.6% in the fourth quarter. CWM LLC now owns 1,076 shares of the company’s stock valued at $42,000 after buying an additional 718 shares during the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.
Smartsheet Company Profile
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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