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 $53.36.
According to TipRanks.com, Berg is a top 100 analyst with an average return of 20.0% and a 68.2% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and Tyler Technologies.
Smartsheet has an analyst consensus of Moderate Buy, with a price target consensus of $52.75, a -0.5% downside from current levels. In a report issued on June 23, Morgan Stanley also maintained a Buy rating on the stock with a $58.00 price target.
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The company has a one-year high of $60.45 and a one-year low of $30.91. Currently, Smartsheet has an average volume of 2.02M.
Based on the recent corporate insider activity of 160 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
