In a report released yesterday, Richard Davis from Canaccord Genuity maintained a Buy rating on Smartsheet (SMAR), with a price target of $45.00. The company’s shares closed last Monday at $36.60.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 39.8% and a 77.0% success rate. Davis covers the Technology sector, focusing on stocks such as Altair Engineering, Slack Technologies, and Bill.com Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Smartsheet with a $51.14 average price target, representing a 55.8% upside. In a report issued on March 11, Jefferies also maintained a Buy rating on the stock with a $49.00 price target.
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Based on Smartsheet’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $28.16 million. In comparison, last year the company had a GAAP net loss of $11.69 million.
Based on the recent corporate insider activity of 176 insiders, corporate insider sentiment is neutral on the stock.
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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.