Smartsheet (NYSE:SMAR – Get Rating) had its price objective boosted by equities research analysts at KeyCorp from $48.00 to $53.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 14.47% from the stock’s current price.
A number of other brokerages also recently issued reports on SMAR. Citigroup boosted their price target on Smartsheet to $37.00 in a report on Friday, December 2nd. BMO Capital Markets increased their price target on Smartsheet from $41.00 to $50.00 in a report on Wednesday. DA Davidson increased their price target on Smartsheet from $40.00 to $45.00 in a research note on Friday, December 2nd. Oppenheimer raised their price objective on Smartsheet from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of Smartsheet from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, December 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.89.
Smartsheet Price Performance
Shares of NYSE:SMAR opened at $46.30 on Wednesday. Smartsheet has a 1 year low of $25.09 and a 1 year high of $58.22. The company has a market cap of $6.08 billion, a PE ratio of -26.31 and a beta of 1.07. The stock’s 50-day moving average is $43.06 and its 200 day moving average is $37.41.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its holdings in shares of Smartsheet by 11.2% in the first quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock valued at $839,084,000 after acquiring an additional 1,542,891 shares in the last quarter. Vanguard Group Inc. raised its position in Smartsheet by 2.8% during the third quarter. Vanguard Group Inc. now owns 11,759,643 shares of the company’s stock worth $404,061,000 after acquiring an additional 319,641 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Smartsheet by 1.3% during the third quarter. BlackRock Inc. now owns 6,565,602 shares of the company’s stock worth $225,592,000 after buying an additional 83,740 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Smartsheet by 8.7% during the third quarter. Alliancebernstein L.P. now owns 3,801,949 shares of the company’s stock worth $130,635,000 after buying an additional 304,815 shares in the last quarter. Finally, Eminence Capital LP grew its holdings in shares of Smartsheet by 28.2% during the fourth quarter. Eminence Capital LP now owns 3,105,002 shares of the company’s stock worth $122,213,000 after buying an additional 682,804 shares in the last quarter. 89.50% of the stock is owned by hedge funds and other 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.
- Get a free copy of the StockNews.com research report on Smartsheet (SMAR)
- Don’t Miss Out: $2 Trillion Could be Headed to the Banking Sector
- A Weakening Economy Suggests Caution Before Buying Five Below
- Williams-Sonoma: Time To Buy At Rock-Bottom Prices
- Why DraftKings Could Keep Outperforming in 2023
- Charles Schwab And The Safest 30% You Can Make This Year
Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.