In a report released today, Scott Berg from Needham assigned a Buy rating to Smartsheet (SMAR), with a price target of $67.00. The company’s shares closed last Thursday at $49.61.
According to TipRanks.com, Berg is a top 100 analyst with an average return of 23.9% and a 70.5% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and BigCommerce Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Smartsheet with a $60.54 average price target, representing a 20.8% upside. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $65.00 price target.
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Based on the recent corporate insider activity of 150 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMAR in relation to earlier this year.
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Smartsheet, Inc. engages in the design and development of cloud-based platform for work management. It offers ways for customers to plan and manage their work using grids, projects, cards, and calendars. The company was founded by W. Eric Browne, Maria Colacurcio, John D. Creason, and Brent R. Frei in 2005 and is headquartered in Bellevue, WA.
