2 weeks Ago By Defense World Staff
Smartsheet ( NYSE:SMAR – Get Free Report ) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Monday, MarketBeat reports. Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $56.
50 price objective (down from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “hold” rating and set a $57.
00 target price on shares of Smartsheet in a report on Tuesday, September 24th. UBS Group reissued a “neutral” rating and issued a $56.50 price target (down from $61.
00) on shares of Smartsheet in a report on Thursday, September 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.
50 price objective (down previously from $60.00) on shares of Smartsheet in a report on Tuesday, September 24th. Finally, Morgan Stanley increased their target price on Smartsheet from $55.
00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company’s stock.
Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.82.
Check Out Our Latest Research Report on SMAR Smartsheet Price Performance Smartsheet ( NYSE:SMAR – Get Free Report ) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.
29 by $0.15. Smartsheet had a negative return on equity of 4.
29% and a negative net margin of 4.07%. The firm had revenue of $276.
41 million for the quarter, compared to the consensus estimate of $274.23 million. During the same quarter in the previous year, the business earned ($0.
23) earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year.
Analysts expect that Smartsheet will post -0.05 earnings per share for the current year. Smartsheet declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that permits the company to repurchase $150.
00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.1% of its shares through open market purchases.
Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued. Insider Buying and Selling at Smartsheet In other news, CEO Mark Patrick Mader sold 20,000 shares of Smartsheet stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $51.
78, for a total value of $1,035,600.00. Following the transaction, the chief executive officer now owns 588,762 shares in the company, valued at approximately $30,486,096.
36. This trade represents a 0.00 % decrease in their position.
The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink . In other news, CEO Mark Patrick Mader sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $51.
78, for a total value of $1,035,600.00. Following the completion of the transaction, the chief executive officer now owns 588,762 shares of the company’s stock, valued at approximately $30,486,096.
36. This represents a 0.00 % decrease in their ownership of the stock.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, insider Jolene Lau Marshall sold 3,741 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.
18, for a total transaction of $180,241.38. Following the completion of the sale, the insider now owns 17,100 shares in the company, valued at approximately $823,878.
The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
Insiders sold a total of 42,730 shares of company stock worth $2,249,116 over the last three months. Corporate insiders own 4.52% of the company’s stock.
Institutional Inflows and Outflows A number of large investors have recently modified their holdings of SMAR. SG Americas Securities LLC increased its holdings in Smartsheet by 250.1% in the 1st quarter.
SG Americas Securities LLC now owns 15,630 shares of the company’s stock worth $602,000 after purchasing an additional 11,166 shares in the last quarter. Swiss National Bank raised its holdings in Smartsheet by 1.1% in the 1st quarter.
Swiss National Bank now owns 255,700 shares of the company’s stock valued at $9,844,000 after buying an additional 2,700 shares during the last quarter. Sei Investments Co. raised its holdings in Smartsheet by 20.
3% in the 1st quarter. Sei Investments Co. now owns 147,306 shares of the company’s stock valued at $5,671,000 after buying an additional 24,823 shares during the last quarter.
Entropy Technologies LP acquired a new stake in Smartsheet during the 1st quarter worth approximately $990,000. Finally, State Board of Administration of Florida Retirement System increased its position in Smartsheet by 5.1% in the 1st quarter.
State Board of Administration of Florida Retirement System now owns 128,873 shares of the company’s stock valued at $4,962,000 after acquiring an additional 6,260 shares during the period. 90.01% of the stock is currently owned by institutional investors.
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.
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