Smartsheet (NYSE:SMAR) PT Raised to $57.00

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

In other Smartsheet news, insider Jolene Lau Marshall sold 2,221 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $44.47, for a total value of $98,767.87. Following the completion of the transaction, the insider now directly owns 9,535 shares in the company, valued at $424,021.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.58% of the stock is currently owned by company insiders.

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

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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.