Smartsheet (NYSE:SMAR) Stock Rating Reaffirmed by DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Smartsheet (NYSE:SMAR) in a research report released on Thursday, The Fly reports. DA Davidson currently has a $44.00 target price on the stock.

SMAR has been the topic of a number of other reports. Stephens reiterated a buy rating and issued a $55.00 price objective on shares of Smartsheet in a report on Tuesday, September 10th. Wedbush cut Smartsheet from an outperform rating to a neutral rating and cut their target price for the stock from $62.00 to $42.00 in a research note on Monday, November 11th. Royal Bank of Canada reduced their target price on Smartsheet from $60.00 to $53.00 and set an outperform rating on the stock in a research report on Thursday, October 3rd. ValuEngine lowered Smartsheet from a buy rating to a hold rating in a research note on Tuesday, September 24th. Finally, Berenberg Bank assumed coverage on Smartsheet in a report on Thursday, October 10th. They set a buy rating and a $48.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Smartsheet currently has a consensus rating of Buy and a consensus price target of $50.50.

Shares of SMAR stock opened at $44.66 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.50 and a quick ratio of 3.50. The company has a market capitalization of $5.09 billion, a PE ratio of -72.03 and a beta of 2.02. The firm’s 50-day moving average is $41.42 and its two-hundred day moving average is $44.86. Smartsheet has a 12 month low of $22.01 and a 12 month high of $55.79.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, December 4th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.13. The business had revenue of $71.50 million during the quarter, compared to analysts’ expectations of $69.83 million. Smartsheet had a negative net margin of 32.50% and a negative return on equity of 26.57%. The business’s revenue for the quarter was up 52.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. Sell-side analysts forecast that Smartsheet will post -0.88 EPS for the current year.

In related news, CFO Jennifer Ceran sold 135,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $38.89, for a total transaction of $5,250,150.00. Also, insider Eugene Farrell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $45.28, for a total value of $1,358,400.00. Following the transaction, the insider now owns 70,193 shares of the company’s stock, valued at $3,178,339.04. The disclosure for this sale can be found here. In the last three months, insiders sold 684,800 shares of company stock worth $26,803,427. 24.73% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Meadow Creek Investment Management LLC grew its holdings in shares of Smartsheet by 76.9% in the second quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock valued at $89,000 after purchasing an additional 800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Smartsheet during the second quarter worth $111,000. Systematic Financial Management LP purchased a new stake in shares of Smartsheet during the second quarter worth $118,000. Neuburgh Advisers LLC raised its stake in shares of Smartsheet by 76.9% in the second quarter. Neuburgh Advisers LLC now owns 2,530 shares of the company’s stock valued at $122,000 after acquiring an additional 1,100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Smartsheet by 382.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,187 shares of the company’s stock valued at $154,000 after acquiring an additional 2,527 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About Smartsheet

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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Analyst Recommendations for Smartsheet (NYSE:SMAR)

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