Brokers Issue Forecasts for SmartRent Q4 Earnings

SmartRent, Inc. (NYSE:SMRT) – Investment analysts at Colliers Securities issued their Q4 2024 EPS estimates for SmartRent in a research note issued to investors on Monday, November 11th. Colliers Securities analyst B. Oxford forecasts that the company will earn ($0.04) per share for the quarter. Colliers Securities has a “Neutral” rating on the stock. The consensus estimate for SmartRent’s current full-year earnings is ($0.12) per share.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The business had revenue of $40.50 million during the quarter, compared to the consensus estimate of $45.94 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was down 30.3% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. BTIG Research downgraded shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Cantor Fitzgerald lowered SmartRent from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $2.00 in a research note on Thursday, August 8th. Keefe, Bruyette & Woods cut SmartRent from an “outperform” rating to a “market perform” rating and cut their price target for the company from $3.50 to $2.00 in a report on Thursday, August 8th. Finally, DA Davidson lowered SmartRent from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $3.25 to $2.00 in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.50.

SmartRent Trading Up 1.7 %

Shares of SMRT stock opened at $1.50 on Wednesday. SmartRent has a 1 year low of $1.17 and a 1 year high of $3.47. The firm’s fifty day simple moving average is $1.69 and its 200 day simple moving average is $2.02. The firm has a market capitalization of $287.89 million, a P/E ratio of -11.50 and a beta of 1.96.

Insider Activity at SmartRent

In other SmartRent news, Director Frank Martell purchased 75,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $1.63 per share, for a total transaction of $122,250.00. Following the completion of the purchase, the director now directly owns 150,000 shares in the company, valued at approximately $244,500. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frank Martell acquired 75,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the acquisition, the director now owns 150,000 shares in the company, valued at $244,500. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Robyn Young bought 14,793 shares of SmartRent stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $1.70 per share, for a total transaction of $25,148.10. Following the purchase, the chief marketing officer now directly owns 52,305 shares in the company, valued at $88,918.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by insiders.

Institutional Trading of SmartRent

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SmartRent by 12.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,786 shares of the company’s stock worth $1,063,000 after acquiring an additional 44,611 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in SmartRent by 38.5% in the first quarter. First Eagle Investment Management LLC now owns 1,389,680 shares of the company’s stock worth $3,724,000 after purchasing an additional 386,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in SmartRent by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,244,087 shares of the company’s stock worth $54,254,000 after purchasing an additional 386,845 shares in the last quarter. Long Pond Capital LP grew its holdings in shares of SmartRent by 26.1% during the first quarter. Long Pond Capital LP now owns 3,995,946 shares of the company’s stock worth $10,709,000 after purchasing an additional 826,136 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of SmartRent by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after buying an additional 8,169 shares in the last quarter. 59.42% of the stock is owned by institutional investors.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.