On Jan. 04, Porrini Paul divested U.S. $2,093,400 in shares of Smartsheet Inc.. The GC, GC sold 30,000 shares at a price per share of $69.78. The transaction decreased this specific insider’s holdings to 7,172 shares worth around $0.46 million at present.
Needham maintained its Smartsheet Inc. [SMAR] rating to the equivalent of a Buy but changed the price target to $80 from $67, in a research note dated December 08, 2020. That figure represents around a 19.65% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Needham’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early December. Meanwhile, KeyBanc Capital Markets had launched its coverage on SMAR with “an Overweight”, in a research note produced for clients July 27, 2020. In addition, there was a new coverage from Wells Fargo on June 23, 2020. The research firm rated SMAR “an Equal weight”.
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Is Smartsheet Inc. [NYSE:SMAR] a Good Buy Right Now?
It should be noted that SMAR technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Smartsheet Inc.’s Trend Spotter indicated that the signals were Bullish. The stock current average is 1.44 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 1.34 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.51 million shares.
SMAR Price Performance
On Wall Street, Smartsheet Inc. [NYSE:SMAR] finished Wednesday’s session down -5.02% at $64.28. The stock went up to $66.375 at the same session while its lowest single day price was $63.76. In the last five days, it saw a fall of about -7.22%, Smartsheet Inc. shares dropped by almost -7.23% since the beginning of the year. However, the share price has dropped to as low as -14.85% below its one year high. On 01/04/21, the company shares recorded $69.97, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $63.76. The company’s shares have inclined by 42.40% in the past year. The 50-day SMA achieved is $60.70 while the 200-day SMA is $52.55. Volume gained to 1.86 million from 1.12 million in the previous session.
Smartsheet Inc. [SMAR] Valuation Measures
Notably, Smartsheet Inc. [SMAR] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 22.53 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.93.
SMAR Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 63.23 level, and in case of violation of this particular level, it will cause more drop to 62.19 level. On the upper level, 67.42 is still the key resistance. The stock may increase to the subsequent resistance at 65.85. The Relative Strength Index (RSI) pinned on the 14-day chart is 44.44, implying a neutral technical stance while the MACD stands at -3.90, meaning price will decrease in the next trading period. Percent R indicator moved to 95.03%, implying bearish price movement. Stochastic %K at 9.32% suggest buying the stock.
What is the short interest in Smartsheet Inc.?
Short interest in the Smartsheet Inc. stock has surged, increasing by 0.87 million shares to total 8.95 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 9.82 million, data from Yahoo Finance shows. The decrease of -9.72% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 9.01% of the overall float for the stock.
Smartsheet Inc.’s Biggest Shareholders: Who Owns Smartsheet Inc. [SMAR]?
Filings by Capital Research & Management Co showed that the firm now holds a total of 14,340,317 shares or roughly 11.89% of the outstanding SMAR shares. This means their shares have increased by 103,629 from the 14,340,317 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $574,651,476. Details in the latest 13F filings reveal that Brown Capital Management LLC acquired their 14.23% stake valued at $358,710,530 while BlackRock Fund Advisors added theirs at $284,713,053. During the last quarter, Brown Capital Management LLC raised 769,990 of its shares in Smartsheet Inc. while BlackRock Fund Advisors bought 15,879 shares. The Coatue Management LLC’s holdings currently number 4,487,942 shares at $288484911.76. According to the firm’s last 13F report, Tiger Global Management LLC shares in the company at filing stood at 4,145,400 shares, roughly $240,557,562.
SMAR Earnings Forecast For The Current Quarter
Smartsheet Inc. [SMAR] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $102.72M and an earnings per share of -$0.13 for Jan 2021. Looking further ahead, the company is expected to report revenue of $108.96M at an EPS of -$0.12 for Apr 2021. The estimates represent upside of 29.20% and 0.00% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SMAR Earnings Estimates For The Current Year
For the financial year, Smartsheet Inc. [NYSE:SMAR] is expected to bring in revenue of $378.3M. The returns are nearly $107.42 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -0.42, higher than that of FY20 by $0.07. Estimates put this year’s earnings growth at 14.30%. As for sales, forecasts are for an increase of 39.70% in the current fiscal year and a further 29.20% over the following year.
What are analyst thoughts on Smartsheet Inc.?
Looking forward to the Smartsheet Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Smartsheet Inc. stock at $80.00 within the next 12 months, which represents almost 19.65 per cent growth from its previous closing price of $64.28. The highest analysts’ target for Smartsheet Inc. stock projections is $90.00 and the lowest one is $65.00. Still, 16 analysts sharing their consensus rating for SMAR stock in 2021 agree that it is an Overweight.