Smartsheet Inc. [SMAR] fell -60.21% so far this year. What now?

Smartsheet Inc. [NYSE: SMAR] plunged by -$2.45 during the normal trading session on Thursday and reaching a high of $32.22 during the day while it closed the day at $30.82. The company report on September 1, 2022 that Smartsheet Acquires Outfit Bolstering Its Industry-Leading Digital Asset Management Platform Brandfolder.

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Brandfolder customers to gain best-in-class design automation and templating capabilities.

Smartsheet, the enterprise platform for dynamic work, has acquired brand management, templating and creative automation platform, Outfit, deepening the company’s investment into its industry-leading digital asset management (DAM) offering, Brandfolder by Smartsheet.

Smartsheet Inc. stock has also loss -12.79% of its value over the past 7 days. However, SMAR stock has declined by -21.70% in the 3 months of the year. Over the past six months meanwhile, it has lost -39.78% and lost -60.21% year-on date.

The market cap for SMAR stock reached $4.15 billion, with 128.52 million shares outstanding and 125.43 million shares in the current float. Compared to the average trading volume of 1.86M shares, SMAR reached a trading volume of 3159127 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $53.25 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 1.80. 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.

Citigroup have made an estimate for Smartsheet Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 01, 2022. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on August 12, 2022, representing the official price target for Smartsheet Inc. stock. Previously, the target price had yet another raise from $75 to $95, while Wells Fargo kept a Overweight rating on SMAR stock.

The Average True Range (ATR) for Smartsheet Inc. is set at 1.79, with the Price to Sales ratio for SMAR stock in the period of the last 12 months amounting to 6.89. The Price to Book ratio for the last quarter was 8.24, with the Price to Cash per share for the same quarter was set at 3.32.

SMAR stock trade performance evaluation

Smartsheet Inc. [SMAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.79. With this latest performance, SMAR shares dropped by -9.17% in over the last four-week period, additionally sinking by -39.78% over the last 6 months – not to mention a drop of -62.16% 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 37.75, with the RSI for the last a single of trading hit 29.51, and the three-weeks RSI is set at 41.76 for Smartsheet Inc. [SMAR]. The present Moving Average for the last 50 days of trading for this stock 33.16, while it was recorded at 32.87 for the last single week of trading, and 49.18 for the last 200 days.

Smartsheet Inc. [SMAR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Smartsheet Inc. [SMAR] shares currently have an operating margin of -30.85 and a Gross Margin at +78.86. Smartsheet Inc.’s Net Margin is presently recorded at -31.06.

Return on Equity for this stock declined to -33.17, with Return on Assets sitting at -17.87.

Smartsheet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Smartsheet Inc. [SMAR]: Insider Ownership positions

There are presently around $3,642 million, or 93.10% of SMAR stock, in the hands of institutional investors. The top three institutional holders of SMAR stocks are: CAPITAL WORLD INVESTORS with ownership of 15,180,175, which is approximately -0.891% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 11,440,002 shares of the stock with an approximate value of $352.58 million in SMAR stocks shares; and BROWN CAPITAL MANAGEMENT LLC, currently with $211.05 million in SMAR stock with ownership of nearly 0.271% of the company’s market capitalization.

Positions in Smartsheet Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 173 institutional holders increased their position in Smartsheet Inc. [NYSE:SMAR] by around 18,937,599 shares. Additionally, 152 investors decreased positions by around 15,916,974 shares, while 42 investors held positions by with 83,319,812 shares. The mentioned changes placed institutional holdings at 118,174,385 shares, according to the latest SEC report filing. SMAR stock had 44 new institutional investments in for a total of 5,186,001 shares, while 61 institutional investors sold positions of 7,697,584 shares during the same period.


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