Smartsheet (NYSE:SMAR) Price Target Increased to $45.00 by Analysts at Barclays

Smartsheet (NYSE:SMARFree Report) had its price objective hoisted by Barclays from $40.00 to $45.00 in a research report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also weighed in on SMAR. Wells Fargo & Company cut their target price on shares of Smartsheet from $55.00 to $47.00 and set an overweight rating for the company in a research report on Friday, March 15th. UBS Group cut their target price on shares of Smartsheet from $60.00 to $54.00 and set a buy rating for the company in a research report on Friday, March 15th. Morgan Stanley increased their target price on shares of Smartsheet from $51.00 to $53.00 and gave the stock an overweight rating in a research report on Thursday. Canaccord Genuity Group increased their target price on shares of Smartsheet from $45.00 to $52.00 and gave the stock a buy rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a buy rating and set a $57.00 target price on shares of Smartsheet in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $51.75.

View Our Latest Stock Analysis on Smartsheet

Smartsheet Stock Performance

NYSE SMAR opened at $44.22 on Thursday. Smartsheet has a 52-week low of $35.52 and a 52-week high of $52.81. The company has a 50-day simple moving average of $38.98 and a 200 day simple moving average of $42.33.

Smartsheet (NYSE:SMARGet Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.17. The business had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.42%. As a group, analysts anticipate that Smartsheet will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total transaction of $303,766.88. Following the completion of the sale, the executive now directly owns 12,718 shares in the company, valued at $501,597.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Smartsheet news, COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the transaction, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at $2,591,354.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the transaction, the executive now directly owns 12,718 shares in the company, valued at $501,597.92. The disclosure for this sale can be found here. Insiders sold a total of 28,770 shares of company stock worth $1,132,791 over the last three months. 4.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SMAR. Norges Bank purchased a new position in shares of Smartsheet in the fourth quarter worth $68,879,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Smartsheet by 256.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock worth $7,294,000 after buying an additional 109,786 shares during the period. Moody National Bank Trust Division purchased a new position in shares of Smartsheet in the fourth quarter worth $1,755,000. Lecap Asset Management Ltd. purchased a new position in shares of Smartsheet in the fourth quarter worth $1,287,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Smartsheet in the fourth quarter worth $1,219,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Smartsheet

(Get Free Report)

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.

See Also

Analyst Recommendations for Smartsheet (NYSE:SMAR)

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.