Smartsheet (SMAR) Receives a Buy from Needham

In a report released today, Scott Berg from Needham maintained a Buy rating on Smartsheet (SMAR), with a price target of $60.00. The company’s shares closed last Monday at $36.60.

According to, Berg is a 5-star analyst with an average return of 5.9% and a 52.5% success rate. Berg covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Tyler Technologies.

Smartsheet has an analyst consensus of Strong Buy, with a price target consensus of $51.14, implying a 55.8% upside from current levels. 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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The company has a one-year high of $55.79 and a one-year low of $30.91. Currently, Smartsheet has an average volume of 1.28M.

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.

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