Shares of Smartsheet Inc (NYSE:SMAR) have received an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $36.33.

A number of equities analysts recently issued reports on SMAR shares. Zacks Investment Research cut Smartsheet from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Royal Bank of Canada boosted their price objective on Smartsheet to $39.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. JPMorgan Chase & Co. boosted their price objective on Smartsheet to $33.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Jefferies Financial Group boosted their price objective on Smartsheet to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. Finally, Morgan Stanley boosted their price objective on Smartsheet from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, September 18th.

Shares of Smartsheet stock opened at $31.64 on Monday. Smartsheet has a one year low of $18.06 and a one year high of $33.98. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.02.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Tuesday, September 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.08. The business had revenue of $42.38 million for the quarter, compared to analysts’ expectations of $39.21 million. The business’s quarterly revenue was up 58.9% on a year-over-year basis. analysts predict that Smartsheet will post -0.68 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in Smartsheet during the 2nd quarter valued at $230,000. Russell Investments Group Ltd. bought a new stake in Smartsheet during the 2nd quarter valued at $275,000. Systematic Financial Management LP bought a new stake in Smartsheet during the 2nd quarter valued at $307,000. Cubist Systematic Strategies LLC bought a new stake in Smartsheet during the 2nd quarter valued at $316,000. Finally, Brighton Jones LLC bought a new stake in Smartsheet during the 2nd quarter valued at $440,000. Institutional investors own 41.68% of the company’s stock.

Smartsheet Company Profile

Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.

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Analyst Recommendations for Smartsheet (NYSE:SMAR)

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