Smartsheet Inc (NYSE:SMAR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Smartsheet Inc (NYSE:SMAR – Get Rating) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $49.06.

Several brokerages have issued reports on SMAR. Needham & Company LLC reissued a “buy” rating and issued a $57.00 price objective on shares of Smartsheet in a research note on Wednesday, March 15th. DA Davidson increased their target price on Smartsheet from $54.00 to $57.00 in a research report on Wednesday, March 15th. Guggenheim raised their price target on shares of Smartsheet from $54.00 to $57.00 and gave the company a “buy” rating in a report on Friday, March 24th. KeyCorp raised their price target on Smartsheet from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, March 15th. Finally, Royal Bank of Canada upped their price objective on shares of Smartsheet from $36.00 to $43.00 and gave the company a “sector perform” rating in a report on Wednesday, March 15th.

Smartsheet Trading Down 1.6 %

Shares of NYSE:SMAR opened at $46.84 on Friday. The company has a market cap of $6.21 billion, a price-to-earnings ratio of -28.05 and a beta of 1.07. The company has a 50-day moving average price of $44.04 and a 200-day moving average price of $40.56. Smartsheet has a 12 month low of $25.09 and a 12 month high of $48.99.

Smartsheet (NYSE:SMAR – Get Rating) last issued its quarterly earnings results on Tuesday, March 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.06. The company had revenue of $212.34 million during the quarter, compared to analysts’ expectations of $206.08 million. Smartsheet had a negative net margin of 28.12% and a negative return on equity of 43.31%. As a group, research analysts forecast that Smartsheet will post -1.27 EPS for the current fiscal year.

Insider Transactions at Smartsheet

In related news, CRO Michael Arntz sold 10,418 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $47.68, for a total transaction of $496,730.24. Following the transaction, the executive now directly owns 18,483 shares of the company’s stock, valued at $881,269.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Smartsheet news, CRO Michael Arntz sold 10,418 shares of Smartsheet stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $47.68, for a total value of $496,730.24. Following the completion of the sale, the executive now directly owns 18,483 shares in the company, valued at $881,269.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jolene Lau Marshall sold 1,051 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $44.31, for a total value of $46,569.81. Following the completion of the transaction, the insider now directly owns 6,585 shares in the company, valued at $291,781.35. The disclosure for this sale can be found here. Insiders have sold 23,430 shares of company stock valued at $1,115,359 over the last three months. Company insiders own 4.71% of the company’s stock.

Institutional Trading of Smartsheet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC acquired a new position in shares of Smartsheet during the fourth quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in Smartsheet in the 1st quarter valued at approximately $29,000. UMB Bank n.a. bought a new stake in shares of Smartsheet in the 4th quarter worth approximately $32,000. Signaturefd LLC grew its holdings in shares of Smartsheet by 57.1% during the 3rd quarter. Signaturefd LLC now owns 1,073 shares of the company’s stock worth $37,000 after purchasing an additional 390 shares in the last quarter. Finally, CWM LLC increased its position in shares of Smartsheet by 200.6% during the fourth quarter. CWM LLC now owns 1,076 shares of the company’s stock valued at $42,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 89.50% of the company’s stock.

About Smartsheet

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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.