Smartsheet Inc (NYSE:SMAR) Given Average Recommendation of “Moderate Buy” by Analysts

Smartsheet Inc (NYSE:SMAR) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $52.00.

A number of equities research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Smartsheet in a research note on Tuesday, June 25th. BMO Capital Markets raised their price target on Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Wells Fargo & Company lifted their price target on Smartsheet from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Canaccord Genuity Group increased their price objective on shares of Smartsheet from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Royal Bank of Canada lifted their target price on shares of Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th.

Smartsheet Stock Performance

Shares of NYSE SMAR opened at $49.99 on Tuesday. Smartsheet has a one year low of $35.52 and a one year high of $50.38. The firm has a market capitalization of $6.92 billion, a P/E ratio of -80.63 and a beta of 0.74. The company’s fifty day moving average is $45.10 and its two-hundred day moving average is $42.10.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The firm had revenue of $262.98 million during the quarter, compared to analysts’ expectations of $258.06 million. On average, sell-side analysts forecast that Smartsheet will post -0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Stephen Robert Branstetter sold 2,004 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $48.00, for a total transaction of $96,192.00. Following the transaction, the chief operating officer now directly owns 61,791 shares in the company, valued at $2,965,968. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Stephen Robert Branstetter sold 2,004 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $48.00, for a total transaction of $96,192.00. Following the completion of the transaction, the chief operating officer now owns 61,791 shares of the company’s stock, valued at $2,965,968. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 3,741 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $48.18, for a total transaction of $180,241.38. Following the transaction, the insider now directly owns 17,100 shares in the company, valued at approximately $823,878. The disclosure for this sale can be found here. Insiders sold a total of 32,929 shares of company stock valued at $1,446,805 over the last quarter. Company insiders own 4.52% of the company’s stock.

Institutional Investors Weigh In On Smartsheet

A number of institutional investors have recently added to or reduced their stakes in SMAR. First Horizon Advisors Inc. lifted its position in Smartsheet by 37.5% during the second quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after buying an additional 244 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in Smartsheet by 1.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock valued at $1,093,000 after buying an additional 285 shares in the last quarter. Amalgamated Bank lifted its position in Smartsheet by 3.5% during the second quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock valued at $383,000 after buying an additional 294 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Smartsheet by 24.6% during the first quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock valued at $70,000 after buying an additional 360 shares in the last quarter. Finally, Washington Capital Management Inc. lifted its position in Smartsheet by 2.1% during the second quarter. Washington Capital Management Inc. now owns 19,775 shares of the company’s stock valued at $872,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.