Needham Issues a Buy Rating on Smartsheet (SMAR)

Needham analyst Scott Berg assigned a Buy rating to Smartsheet (SMAR) today and set a price target of $80.00. The company’s shares closed last Tuesday at $68.94, close to its 52-week high of $75.49.

According to, Berg is a top 25 analyst with an average return of 31.0% and a 75.0% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, BigCommerce Holdings, and Cornerstone Ondemand.

Smartsheet has an analyst consensus of Strong Buy, with a price target consensus of $80.89, implying a 17.9% upside from current levels. In a report issued on January 4, Oppenheimer also assigned a Buy rating to the stock with a $85.00 price target.

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The company has a one-year high of $75.49 and a one-year low of $30.91. Currently, Smartsheet has an average volume of 1.3M.

Based on the recent corporate insider activity of 147 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.

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