Wells Fargo slashes price target on Smartsheet Inc. [SMAR] – find out why.

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Smartsheet Inc. [NYSE: SMAR] price surged by 0.15 percent to reach at $0.1. The company report on January 4, 2022 that Smartsheet to Participate at the 24th Annual Needham Virtual Growth Conference.

Smartsheet Inc. (NYSE:SMAR), the enterprise platform for dynamic work, today announced that its President & Chief Executive Officer, Mark Mader, is scheduled to present at the 24th Annual Needham Virtual Growth Conference on Monday, January 10, 2022, at 2:45 p.m. Eastern Time.


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A live webcast of the presentation will be accessible from Smartsheet’s investor website at https://investors.smartsheet.com. A replay of the presentation will be available from the website following the completion of the event.

A sum of 3186694 shares traded at recent session while its average daily volume was at 1.21M shares. Smartsheet Inc. shares reached a high of $71.86 and dropped to a low of $67.91 until finishing in the latest session at $68.30.

The one-year SMAR stock forecast points to a potential upside of 26.79. The average equity rating for SMAR stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Smartsheet Inc. [SMAR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMAR shares is $93.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMAR stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Smartsheet Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 06, 2022. While these analysts kept the previous recommendation, DA Davidson raised their target price to Buy. The new note on the price target was released on January 05, 2022, representing the official price target for Smartsheet Inc. stock. Previously, the target price had yet another raise from $65 to $85, while Jefferies kept a Buy rating on SMAR stock. On June 11, 2021, analysts decreased their price target for SMAR shares from 80 to 65.

The Average True Range (ATR) for Smartsheet Inc. is set at 4.25, with the Price to Sales ratio for SMAR stock in the period of the last 12 months amounting to 17.40. The Price to Book ratio for the last quarter was 16.82. Price to Free Cash Flow for SMAR in the course of the last twelve months was 7959.43 with Quick ratio for the last quarter at 1.60.

SMAR Stock Performance Analysis:

Smartsheet Inc. [SMAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.35. With this latest performance, SMAR shares dropped by -5.18% in over the last four-week period, additionally sinking by -8.85% over the last 6 months – not to mention a rise of 2.61% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMAR stock in for the last two-week period is set at 40.46, with the RSI for the last a single of trading hit 32.02, and the three-weeks RSI is set at 44.42 for Smartsheet Inc. [SMAR]. The present Moving Average for the last 50 days of trading for this stock 70.56, while it was recorded at 72.74 for the last single week of trading, and 68.52 for the last 200 days.

Insight into Smartsheet Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Smartsheet Inc. [SMAR] shares currently have an operating margin of -31.00 and a Gross Margin at +77.81. Smartsheet Inc.’s Net Margin is presently recorded at -29.82.

Return on Total Capital for SMAR is now -20.00, given the latest momentum, and Return on Invested Capital for the company is -19.78. Return on Equity for this stock declined to -22.09, with Return on Assets sitting at -13.45. When it comes to the capital structure of this company, Smartsheet Inc. [SMAR] has a Total Debt to Total Equity ratio set at 16.89. Additionally, SMAR Total Debt to Total Capital is recorded at 14.45, with Total Debt to Total Assets ending up at 9.76. Long-Term Debt to Equity for the company is recorded at 13.65, with the Long-Term Debt to Total Capital now at 11.68.

Reflecting on the efficiency of the workforce at the company, Smartsheet Inc. [SMAR] managed to generate an average of -$60,041 per employee. Receivables Turnover for the company is 4.83 with a Total Asset Turnover recorded at a value of 0.45.Smartsheet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

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Smartsheet Inc. [SMAR] Insider Position Details

There are presently around $7,533 million, or 89.60% of SMAR stock, in the hands of institutional investors. The top three institutional holders of SMAR stocks are: CAPITAL WORLD INVESTORS with ownership of 14,504,662, which is approximately 2.882% of the company’s market cap and around 2.60% of the total institutional ownership; VANGUARD GROUP INC, holding 10,958,043 shares of the stock with an approximate value of $747.34 million in SMAR stocks shares; and BROWN CAPITAL MANAGEMENT LLC, currently with $499.56 million in SMAR stock with ownership of nearly -1.963% of the company’s market capitalization.

Positions in Smartsheet Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 169 institutional holders increased their position in Smartsheet Inc. [NYSE:SMAR] by around 9,609,514 shares. Additionally, 138 investors decreased positions by around 9,410,626 shares, while 53 investors held positions by with 91,427,926 shares. The mentioned changes placed institutional holdings at 110,448,066 shares, according to the latest SEC report filing. SMAR stock had 48 new institutional investments in for a total of 2,019,103 shares, while 41 institutional investors sold positions of 2,365,795 shares during the same period.