ValuEngine Upgrades SharpSpring (NASDAQ:SHSP) to Strong-Buy

SharpSpring (NASDAQ:SHSP) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other equities research analysts also recently issued reports on the company. Stephens raised SharpSpring from an “equal” rating to an “overweight” rating and increased their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, August 8th. National Securities reissued a “buy” rating and issued a $18.00 price objective on shares of SharpSpring in a research note on Wednesday, August 7th. Canaccord Genuity reduced their price objective on SharpSpring from $22.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Roth Capital reduced their price objective on SharpSpring from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Craig Hallum raised SharpSpring from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, June 24th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $17.33.

SharpSpring stock traded up $0.03 during mid-day trading on Wednesday, hitting $9.76. The company’s stock had a trading volume of 46,746 shares, compared to its average volume of 90,531. The firm’s 50 day moving average is $11.09 and its 200 day moving average is $13.92. The company has a market cap of $106.83 million, a PE ratio of -8.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.30 and a quick ratio of 6.30. SharpSpring has a 52-week low of $8.48 and a 52-week high of $21.10.

SharpSpring (NASDAQ:SHSP) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.04. The firm had revenue of $5.52 million during the quarter, compared to the consensus estimate of $5.45 million. SharpSpring had a negative return on equity of 51.86% and a negative net margin of 57.95%. As a group, analysts forecast that SharpSpring will post -1.18 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of SharpSpring by 1,543.0% during the 2nd quarter. BlackRock Inc. now owns 559,656 shares of the technology company’s stock worth $7,270,000 after purchasing an additional 525,593 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of SharpSpring by 87.5% during the 2nd quarter. Vanguard Group Inc. now owns 550,443 shares of the technology company’s stock worth $7,150,000 after purchasing an additional 256,817 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of SharpSpring by 60.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 519,088 shares of the technology company’s stock worth $6,743,000 after purchasing an additional 195,534 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of SharpSpring by 14,948.0% during the 2nd quarter. Centaurus Financial Inc. now owns 258,525 shares of the technology company’s stock worth $3,358,000 after purchasing an additional 256,807 shares in the last quarter. Finally, Granite Investment Partners LLC raised its stake in shares of SharpSpring by 87.8% during the 1st quarter. Granite Investment Partners LLC now owns 206,418 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 96,478 shares in the last quarter. 50.08% of the stock is owned by institutional investors.

About SharpSpring

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

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Analyst Recommendations for SharpSpring (NASDAQ:SHSP)

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