Smartsheet Inc. (NYSE: SMAR) Stock: Can It Surge Further? – Marketing Sentinel
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Smartsheet Inc. (NYSE: SMAR) Stock: Can It Surge Further?

In today’s recent session, 0.7 million shares of the Smartsheet Inc. (NYSE:SMAR) have been traded, and its beta is 1.63. Most recently the company’s share price was $30.93, and it changed around $1.02 or 3.41% from the last close, which brings the market valuation of the company to $3.76B. SMAR at last check was trading at a discount to its 52-week high of $85.65, offering almost -176.92% off that amount. The share price’s 52-week low was $27.05, which indicates that the recent value has risen by an impressive 12.54% since then. We note from Smartsheet Inc.’s average daily trading volume that its 3-month average coming to 1.95 million.

Smartsheet Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 15 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended SMAR as a Hold, whereas 13 deemed it a Buy, and 0 rated it as Underweight. Smartsheet Inc. is expected to report earnings per share of -$0.19 for the current quarter.

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Smartsheet Inc. (NYSE:SMAR) trade information

Instantly SMAR has been showing a green trend so far today with a performance of 3.41% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 30.89 on Tuesday, 06/21/22 decreased the stock’s daily price by -0.13%. The company’s shares are currently down -61.38% year-to-date, but still up 1.60% over the last five days. On the other hand, Smartsheet Inc. (NYSE:SMAR) is -18.48% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $56.14, which translates to bulls needing to increase their stock price by 44.91% from its current value. Analyst projections state that SMAR is forecast to be at a low of $38.00 and a high of $90.00. In order for the stock price to hit the forecast high, the stock would need to plunge -190.98% from its current level, while the stock would need to crash -22.86% from its current level to reach the projected low.

Smartsheet Inc. (SMAR) estimates and forecasts

Smartsheet Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -58.96 percent over the past six months and at a -125.00% annual growth rate that is well below the industry average of 4.10%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -111.10% in revenue this quarter, and will report a decrease of -240.00% in the next quarter. The year-over-year growth rate is expected to be 36.60%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $162.56 million in revenue for the current quarter. 13 analysts expect Smartsheet Inc. to make $179.55 million in revenue for the quarter ending Jul 2022.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -54.70%.

SMAR Dividends

Smartsheet Inc.’s next quarterly earnings report is expected to be released around March 14 and March 18.

Smartsheet Inc. (NYSE:SMAR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.05% of Smartsheet Inc. shares, and 91.40% of them are in the hands of institutional investors. The stock currently has a share float of 94.28%. Smartsheet Inc. stock is held by 442 institutions, with Capital World Investors being the largest institutional investor. By Dec 30, 2021, it held 10.69% of the shares, which is about 13.77 million shares worth $1.07 billion.

Vanguard Group, Inc. (The), with 8.74% or 11.26 million shares worth $872.12 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

Smallcap World Fund and Brown Capital Management Small Company Fund were the top two Mutual Funds as of Dec 30, 2021. The former held 5.46 million shares worth $423.15 million, making up 4.24% of all outstanding shares. On the other hand, Brown Capital Management Small Company Fund held roughly 3.88 million shares worth around $212.57 million, which represents about 3.01% of the total shares outstanding.

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