Smartsheet (NYSE:SMAR – Get Rating) had its price target hoisted by investment analysts at Guggenheim from $48.00 to $54.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 16.63% from the stock’s current price.
Several other research firms also recently commented on SMAR. Credit Suisse Group reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Smartsheet in a report on Wednesday. Oppenheimer upped their price objective on shares of Smartsheet from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday. KeyCorp upped their price objective on shares of Smartsheet from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday. Moffett Nathanson dropped their price objective on shares of Smartsheet to $45.00 in a report on Friday, December 2nd. Finally, Barclays started coverage on Smartsheet in a research report on Thursday, December 15th. They set an “equal weight” rating and a $45.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Smartsheet presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.89.
Smartsheet Stock Up 2.6 %
NYSE SMAR opened at $46.30 on Wednesday. The company has a market cap of $6.08 billion, a PE ratio of -26.31 and a beta of 1.07. Smartsheet has a 52 week low of $25.09 and a 52 week high of $58.22. The firm’s 50-day simple moving average is $43.06 and its two-hundred day simple moving average is $37.41.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Smartsheet by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company’s stock valued at $2,968,000 after purchasing an additional 343 shares during the period. Royal Bank of Canada lifted its position in Smartsheet by 1.0% during the third quarter. Royal Bank of Canada now owns 37,005 shares of the company’s stock valued at $1,272,000 after buying an additional 364 shares during the period. Signaturefd LLC lifted its position in Smartsheet by 57.1% during 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 period. Amalgamated Bank lifted its position in Smartsheet by 1.4% during the third quarter. Amalgamated Bank now owns 28,532 shares of the company’s stock valued at $980,000 after buying an additional 397 shares during the period. Finally, Commerce Bank lifted its position in Smartsheet by 5.9% during the fourth quarter. Commerce Bank now owns 7,693 shares of the company’s stock valued at $303,000 after buying an additional 431 shares during the period. 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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