Smartsheet (NYSE:SMAR – Get Rating) had its target price lifted by analysts at DA Davidson from $54.00 to $57.00 in a report issued on Wednesday, The Fly reports. DA Davidson’s price target would suggest a potential upside of 23.11% from the company’s current price.
A number of other research firms also recently weighed in on SMAR. Moffett Nathanson dropped their price target on shares of Smartsheet to $45.00 in a research report on Friday, December 2nd. Oppenheimer boosted their target price on shares of Smartsheet from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets boosted their target price on shares of Smartsheet from $41.00 to $50.00 in a research note on Wednesday. KeyCorp boosted their price objective on shares of Smartsheet from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays started 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.89.
Smartsheet Trading Up 2.6 %
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 50 day moving average of $43.06 and a 200-day moving average of $37.41. The company has a market cap of $6.08 billion, a price-to-earnings ratio of -26.31 and a beta of 1.07.
Insider Activity at Smartsheet
Hedge Funds Weigh In On Smartsheet
Hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC purchased a new stake in Smartsheet during the fourth quarter valued at $25,000. UMB Bank n.a. purchased a new stake in shares of Smartsheet in the fourth quarter valued at $32,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Smartsheet in the third quarter valued at $30,000. Signaturefd LLC raised its stake 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 acquiring an additional 390 shares during the period. Finally, CWM LLC grew 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 worth $42,000 after purchasing an additional 718 shares during the last quarter. 89.50% of the stock is currently owned by institutional investors.
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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