Smartsheet Inc (SMAR) Received its Third Buy in a Row


After Canaccord Genuity and SunTrust Robinson gave Smartsheet Inc (NYSE: SMAR) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Stan Zlotsky maintained a Buy rating on Smartsheet Inc today and set a price target of $36. The company’s shares closed yesterday at $29.05.

According to TipRanks.com, Zlotsky is a 4-star analyst with an average return of 29.5% and a 78.6% success rate. Zlotsky covers the Technology sector, focusing on stocks such as Coupa Software Inc, Veeva Systems, and Workiva Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Smartsheet Inc with a $36.33 average price target, which is a 25.1% upside from current levels. In a report issued on September 4, Canaccord Genuity also maintained a Buy rating on the stock with a $35 price target.

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Based on Smartsheet Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $12.3 million. In comparison, last year the company had a GAAP net loss of $22.85 million.

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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.

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