Smartsheet (NYSE:SMAR) Coverage Initiated at Berenberg Bank

Analysts at Berenberg Bank began coverage on shares of Smartsheet (NYSE:SMAR) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $48.00 price target on the stock. Berenberg Bank’s price objective would indicate a potential upside of 17.02% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price (up previously from $45.00) on shares of Smartsheet in a research note on Thursday, July 11th. DA Davidson lowered their target price on Smartsheet to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. ValuEngine downgraded Smartsheet from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Stephens restated a “buy” rating and issued a $55.00 target price on shares of Smartsheet in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.62.

Smartsheet stock opened at $41.02 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $42.04 and its two-hundred day simple moving average is $44.67. Smartsheet has a fifty-two week low of $20.34 and a fifty-two week high of $55.79.



Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.09. The business had revenue of $64.64 million for the quarter, compared to the consensus estimate of $63.55 million. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The company’s quarterly revenue was up 52.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. As a group, analysts expect that Smartsheet will post -0.92 earnings per share for the current fiscal year.

In related news, insider Kara Hamilton sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $53.36, for a total value of $400,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey T. Barker sold 200,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $38.34, for a total value of $7,668,000.00. Insiders sold a total of 867,172 shares of company stock valued at $37,345,227 in the last ninety days. 24.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMAR. BNP Paribas Arbitrage SA raised its holdings in Smartsheet by 240.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock worth $27,000 after purchasing an additional 466 shares during the period. First Trust Advisors LP raised its holdings in shares of Smartsheet by 0.4% during the first quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock valued at $3,532,000 after acquiring an additional 318 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in shares of Smartsheet by 451.9% during the first quarter. Marshall Wace North America L.P. now owns 13,942 shares of the company’s stock valued at $569,000 after acquiring an additional 11,416 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Smartsheet by 65.1% during the first quarter. Clearbridge Investments LLC now owns 420,761 shares of the company’s stock valued at $17,163,000 after acquiring an additional 165,893 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Smartsheet by 754,292.5% during the first quarter. FMR LLC now owns 1,214,572 shares of the company’s stock valued at $49,542,000 after acquiring an additional 1,214,411 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

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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Analyst Recommendations for Smartsheet (NYSE:SMAR)

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