Shares of Smartsheet Inc (NYSE:SMAR – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $52.00.
A number of brokerages have weighed in on SMAR. Morgan Stanley raised their price objective on Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. BMO Capital Markets upped their price target on shares of Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. UBS Group raised their price objective on shares of Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Barclays upped their target price on shares of Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, June 6th. Finally, Guggenheim reiterated a “buy” rating and issued a $56.00 price target on shares of Smartsheet in a research note on Tuesday.
Get Our Latest Research Report on Smartsheet
Insider Activity
Hedge Funds Weigh In On Smartsheet
A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Smartsheet in the 4th quarter valued at $68,879,000. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 109,786 shares during the last quarter. Moody National Bank Trust Division acquired a new position in shares of Smartsheet during the fourth quarter worth approximately $1,755,000. Lecap Asset Management Ltd. bought a new stake in shares of Smartsheet during the fourth quarter valued at approximately $1,287,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of Smartsheet in the fourth quarter valued at approximately $1,219,000. 90.01% of the stock is owned by institutional investors and hedge funds.
Smartsheet Stock Up 1.2 %
Shares of NYSE:SMAR opened at $42.86 on Monday. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of -69.13 and a beta of 0.74. The company has a 50 day moving average of $40.07 and a two-hundred day moving average of $42.28. Smartsheet has a 52-week low of $35.52 and a 52-week high of $49.42.
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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