SharpSpring (NASDAQ:SHSP) Stock Price Down 14% on Analyst Downgrade
SharpSpring Inc (NASDAQ:SHSP) shares traded down 14% on Wednesday after Roth Capital lowered their price target on the stock from $21.00 to $19.00. Roth Capital currently has a buy rating on the stock. SharpSpring traded as low as $9.44 and last traded at $10.24, 668,369 shares changed hands during trading. An increase of 611% from the average session volume of 93,945 shares. The stock had previously closed at $11.91.
Other equities analysts have also issued reports about the stock. National Securities began coverage on shares of SharpSpring in a research report on Thursday, May 30th. They set a “buy” rating on the stock. Canaccord Genuity downgraded shares of Carmanah Technologies from a “buy” rating to a “hold” rating and set a C$7.50 target price on the stock. in a research note on Monday, April 1st. Finally, Craig Hallum reaffirmed a “buy” rating and set a $40.00 target price (down from $45.00) on shares of GTT Communications in a research note on Monday, June 24th. Six analysts have rated the stock with a buy rating, SharpSpring presently has an average rating of “Buy” and an average price target of $19.00.
In other news, Director Daniel Allen sold 1,763,454 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $12.25, for a total value of $21,602,311.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Travis Whitton sold 21,079 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $14.95, for a total transaction of $315,131.05. The disclosure for this sale can be found here. Insiders have sold 2,106,027 shares of company stock worth $25,930,744 over the last ninety days. 25.55% of the stock is owned by insiders.
The business has a 50 day moving average of $13.27. The firm has a market capitalization of $111.90 million, a PE ratio of -9.23 and a beta of 1.13. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.65.
SharpSpring (NASDAQ:SHSP) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.33) earnings per share for the quarter. SharpSpring had a negative return on equity of 63.38% and a negative net margin of 52.14%. The business had revenue of $5.33 million for the quarter. As a group, analysts predict that SharpSpring Inc will post -0.97 EPS for the current fiscal year.
About SharpSpring (NASDAQ:SHSP)
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.
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