Credit Suisse Group reissued their neutral rating on shares of Smartsheet (NYSE:SMAR – Get Rating) in a report issued on Wednesday morning, Benzinga reports. They currently have a $40.00 target price on the stock.
A number of other research analysts have also commented on SMAR. Moffett Nathanson reduced their price target on shares of Smartsheet to $45.00 in a research report on Friday, December 2nd. Morgan Stanley boosted their price target on shares of Smartsheet from $54.00 to $56.00 and gave the company an overweight rating in a research report on Friday, December 2nd. KeyCorp lifted their price objective on shares of Smartsheet from $48.00 to $53.00 and gave the stock an overweight rating in a report on Wednesday. Citigroup lifted their price objective on shares of Smartsheet to $37.00 in a report on Friday, December 2nd. Finally, DA Davidson lifted their price objective on shares of Smartsheet from $54.00 to $57.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Smartsheet has an average rating of Moderate Buy and an average price target of $48.89.
Smartsheet Stock Performance
SMAR opened at $46.40 on Wednesday. The company has a fifty day moving average price of $43.26 and a 200-day moving average price of $37.54. Smartsheet has a one year low of $25.09 and a one year high of $58.22.
Insider Buying and Selling
Hedge Funds Weigh In On Smartsheet
Several institutional investors and hedge funds have recently modified their holdings of SMAR. Belpointe Asset Management LLC bought a new stake in Smartsheet during the 4th quarter valued at about $25,000. Wipfli Financial Advisors LLC purchased a new position in Smartsheet in the third quarter worth about $30,000. UMB Bank n.a. purchased a new position in Smartsheet in the fourth quarter worth about $32,000. Signaturefd LLC raised its holdings in Smartsheet by 57.1% in the third quarter. Signaturefd LLC now owns 1,073 shares of the company’s stock worth $37,000 after buying an additional 390 shares during the last quarter. Finally, CWM LLC raised its holdings in Smartsheet by 200.6% in the fourth quarter. CWM LLC now owns 1,076 shares of the company’s stock worth $42,000 after buying an additional 718 shares during the last quarter. 89.50% of the stock is currently owned by institutional investors.
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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