Smartsheet Inc [NYSE: SMAR] gained 1.93% or 0.75 points to close at $39.60 with a heavy trading volume of 2802807 shares. The company report on March 14, 2024 at 4:08 PM that Smartsheet Announces Leadership Changes to Refine and Expand Go-To-Market, Product, and Innovation.
Hire of Max Long as President of Go-to-Market and promotion of Praerit Garg to President of Product & Innovation Position the Company Strongly for its Next Phase of Growth.
Smartsheet Inc. (NYSE: SMAR), the enterprise work management platform, today announced a series of strategic changes to its executive team as the company enters its post–$1 billion annualized recurring revenue (ARR) growth phase.
The daily chart for SMAR points out that the company has recorded -3.44% loss over the past six months.
If we look at the average trading volume of 1.42M shares, SMAR reached to a volume of 2802807 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $48.92 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 1.55. 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.
KeyBanc Capital Markets have made an estimate for Smartsheet Inc shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on Mar-22-24. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $52 to $48. The new note on the price target was released on March 11, 2024, representing the official price target for Smartsheet Inc stock. Previously, the target price had yet another raise to $45, while BofA Securities analysts kept a Underperform rating on SMAR stock. On January 11, 2024, analysts increased their price target for SMAR shares from 56 to 63.
The Average True Range (ATR) for Smartsheet Inc is set at 1.56, with the Price to Sales ratio for SMAR stock in the period of the last 12 months amounting to 5.63. The Price to Book ratio for the last quarter was 8.95, with the Price to Cash per share for the same quarter was set at 4.62. Price to Free Cash Flow for SMAR in the course of the last twelve months was 37.33 with Quick ratio for the last quarter at 1.34.
Trading performance analysis for SMAR stock
Smartsheet Inc [SMAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.74. With this latest performance, SMAR shares dropped by -4.49% in over the last four-week period, additionally sinking by -3.44% over the last 6 months – not to mention a drop of -17.52% 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 39.75, with the RSI for the last a single of trading hit 41.21, and the three-weeks RSI is set at 40.30 for Smartsheet Inc [SMAR]. The present Moving Average for the last 50 days of trading for this stock 43.91, while it was recorded at 38.64 for the last single week of trading, and 42.34 for the last 200 days.
Smartsheet Inc [SMAR]: A deeper dive into fundamental analysis
Smartsheet Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.34.
Smartsheet Inc [SMAR]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Smartsheet Inc posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 157.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMAR.
An analysis of Institutional ownership at Smartsheet Inc [SMAR]
The top three institutional holders of SMAR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SMAR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SMAR stock with ownership which is approximately 5.8325%.
