Zacks Investment Research Downgrades SharpSpring (NASDAQ:SHSP) to Hold

Zacks Investment Research cut shares of SharpSpring (NASDAQ:SHSP) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “SharpSpring, Inc. provide cloud-based marketing and email software solutions consists of marketing automation to scalable transactional email, email marketing and mobile marketing services. The company’s product lines include SharpSpring, SMTP and GraphicMail. SharpSpring, Inc., formerly known as SMTP Inc., is based in Gainesville, United States. “

Separately, ValuEngine raised shares of SharpSpring from a buy rating to a strong-buy rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $16.71.

SHSP stock traded up $0.11 during mid-day trading on Thursday, hitting $12.27. The stock had a trading volume of 49,500 shares, compared to its average volume of 50,850. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.19. SharpSpring has a 52 week low of $8.10 and a 52 week high of $21.10. The firm has a market capitalization of $137.51 million, a P/E ratio of -9.98 and a beta of 1.05. The firm has a fifty day simple moving average of $11.00 and a 200 day simple moving average of $10.67.

SharpSpring (NASDAQ:SHSP) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). The company had revenue of $5.72 million for the quarter, compared to analyst estimates of $5.71 million. SharpSpring had a negative net margin of 54.83% and a negative return on equity of 44.29%. As a group, equities analysts expect that SharpSpring will post -1.18 earnings per share for the current fiscal year.

In related news, major shareholder Cat Rock Capital Management Lp sold 3,213 shares of SharpSpring stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $8.63, for a total transaction of $27,728.19. Insiders have sold a total of 13,699 shares of company stock worth $132,528 over the last ninety days. 25.55% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of SharpSpring by 14.0% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 11,898 shares of the technology company’s stock valued at $115,000 after purchasing an additional 1,457 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of SharpSpring by 47.0% during the 2nd quarter. Wells Fargo & Company MN now owns 7,205 shares of the technology company’s stock valued at $93,000 after purchasing an additional 2,302 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of SharpSpring during the 2nd quarter valued at approximately $30,000. California State Teachers Retirement System grew its holdings in shares of SharpSpring by 20.8% during the 3rd quarter. California State Teachers Retirement System now owns 15,935 shares of the technology company’s stock valued at $155,000 after purchasing an additional 2,743 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of SharpSpring by 3.8% during the 3rd quarter. State Street Corp now owns 162,992 shares of the technology company’s stock valued at $1,581,000 after purchasing an additional 6,033 shares during the last quarter. 48.35% of the stock is currently owned by institutional investors.

About SharpSpring

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

See Also: Cost of Goods Sold (COGS)

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