Jefferies Financial Group Boosts Smartsheet (SMAR) Price Target to $52.00

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Smartsheet (NYSE:SMAR) had its price objective increased by Jefferies Financial Group from $38.00 to $52.00 in a research report sent to investors on Wednesday, The Fly reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on SMAR. Royal Bank of Canada lowered their target price on shares of Smartsheet from $39.00 to $34.00 and set an outperform rating for the company in a research note on Friday, November 30th. Morgan Stanley lifted their target price on shares of Smartsheet from $33.00 to $34.00 and gave the stock an overweight rating in a research note on Tuesday, December 4th. Zacks Investment Research raised shares of Smartsheet from a hold rating to a buy rating and set a $29.00 price target for the company in a research note on Saturday, December 8th. Stephens assumed coverage on shares of Smartsheet in a research note on Thursday, January 3rd. They issued an overweight rating and a $32.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Smartsheet from $33.00 to $45.00 and gave the company an overweight rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $49.44.

Shares of NYSE SMAR opened at $41.62 on Wednesday. Smartsheet has a twelve month low of $18.06 and a twelve month high of $49.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.

Smartsheet (NYSE:SMAR) last announced its earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. Smartsheet had a negative net margin of 30.32% and a negative return on equity of 60.68%. The business had revenue of $52.20 million during the quarter, compared to the consensus estimate of $49.72 million. The company’s quarterly revenue was up 58.2% compared to the same quarter last year. On average, equities analysts forecast that Smartsheet will post -0.99 EPS for the current fiscal year.

In other Smartsheet news, Director Brent Frei sold 50,000 shares of Smartsheet stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $25.03, for a total value of $1,251,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Arntz sold 4,000 shares of Smartsheet stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $26.51, for a total transaction of $106,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 874,188 shares of company stock valued at $28,663,903.

A number of institutional investors and hedge funds have recently bought and sold shares of SMAR. Geode Capital Management LLC boosted its stake in Smartsheet by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 104,097 shares of the company’s stock valued at $2,587,000 after acquiring an additional 1,523 shares during the last quarter. Norges Bank purchased a new position in Smartsheet in the fourth quarter valued at about $3,729,000. CI Investments Inc. purchased a new position in Smartsheet in the fourth quarter valued at about $40,607,000. Legal & General Group Plc purchased a new position in Smartsheet in the fourth quarter valued at about $961,000. Finally, Whale Rock Capital Management LLC boosted its stake in Smartsheet by 320.6% in the fourth quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock valued at $66,824,000 after acquiring an additional 2,048,846 shares during the last quarter. 49.63% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Company Profile

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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