Smartsheet (NYSE:SMAR) Stock Rating Reaffirmed by Guggenheim

Smartsheet (NYSE:SMARGet Free Report)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a note issued to investors on Tuesday, Benzinga reports. They presently have a $56.00 price target on the stock. Guggenheim’s price objective would suggest a potential upside of 33.72% from the stock’s previous close.

SMAR has been the subject of a number of other research reports. DA Davidson reduced their price target on Smartsheet from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada boosted their price target on Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. Wells Fargo & Company upped their price objective on Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Smartsheet in a report on Thursday, June 6th. Finally, KeyCorp initiated coverage on Smartsheet in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Get Our Latest Analysis on Smartsheet

Smartsheet Trading Up 0.9 %

SMAR traded up $0.37 during trading on Tuesday, reaching $41.88. 282,954 shares of the company were exchanged, compared to its average volume of 1,558,006. The stock has a market cap of $5.79 billion, a P/E ratio of -67.55 and a beta of 0.75. The firm has a 50 day moving average of $39.96 and a 200 day moving average of $42.29. Smartsheet has a 52 week low of $35.52 and a 52 week high of $49.42.

Insider Activity at Smartsheet

In related news, CFO Pete Godbole sold 7,244 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $41.22, for a total transaction of $298,597.68. Following the transaction, the chief financial officer now directly owns 30,786 shares of the company’s stock, valued at $1,268,998.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Smartsheet news, COO Stephen Robert Branstetter sold 4,174 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total value of $183,280.34. Following the transaction, the chief operating officer now directly owns 68,067 shares of the company’s stock, valued at approximately $2,988,821.97. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Pete Godbole sold 7,244 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $41.22, for a total value of $298,597.68. Following the completion of the transaction, the chief financial officer now directly owns 30,786 shares in the company, valued at $1,268,998.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,986 shares of company stock valued at $1,637,452. Company insiders own 4.52% of the company’s stock.

Institutional Trading of Smartsheet

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Smartsheet by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock valued at $531,655,000 after purchasing an additional 225,390 shares during the period. Eminence Capital LP lifted its position in shares of Smartsheet by 58.3% in the 3rd quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock worth $134,698,000 after acquiring an additional 1,226,189 shares during the period. Dorsal Capital Management LP lifted its position in shares of Smartsheet by 4.0% in the 4th quarter. Dorsal Capital Management LP now owns 3,225,000 shares of the company’s stock worth $154,220,000 after acquiring an additional 125,000 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Smartsheet by 9.0% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,706,943 shares of the company’s stock worth $129,446,000 after acquiring an additional 224,513 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its position in shares of Smartsheet by 44.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 1,550,203 shares of the company’s stock worth $59,683,000 after acquiring an additional 474,898 shares during the period. Institutional investors own 90.01% of the company’s stock.

Smartsheet Company Profile

(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.

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Analyst Recommendations for Smartsheet (NYSE:SMAR)

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