Oppenheimer Increases Smartsheet (NYSE:SMAR) Price Target to $55.00

Smartsheet (NYSE:SMAR – Get Rating) had its price objective raised by Oppenheimer from $50.00 to $55.00 in a report published on Wednesday morning, The Fly reports. Oppenheimer currently has an outperform rating on the stock. Oppenheimer also issued estimates for Smartsheet’s FY2025 earnings at ($1.14) EPS.

Several other equities analysts also recently commented on SMAR. Moffett Nathanson decreased their price target on shares of Smartsheet to $45.00 in a research note on Friday, December 2nd. KeyCorp boosted their price objective on shares of Smartsheet from $46.00 to $48.00 and gave the company an overweight rating in a report on Wednesday, March 1st. Royal Bank of Canada boosted their price objective on shares of Smartsheet from $32.00 to $36.00 in a report on Friday, December 2nd. Barclays began coverage on shares of Smartsheet in a report on Thursday, December 15th. They issued an equal weight rating and a $45.00 price objective for the company. Finally, DA Davidson boosted their price objective on shares of Smartsheet from $40.00 to $45.00 in a report on Friday, December 2nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $48.89.

Smartsheet Price Performance

Shares of Smartsheet stock opened at $46.40 on Wednesday. Smartsheet has a 1 year low of $25.09 and a 1 year high of $58.22. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of -27.78 and a beta of 1.07. The business has a fifty day simple moving average of $43.26 and a two-hundred day simple moving average of $37.54.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,221 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $44.47, for a total transaction of $98,767.87. Following the completion of the sale, the insider now owns 9,535 shares of the company’s stock, valued at approximately $424,021.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Smartsheet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in Smartsheet by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company’s stock valued at $2,968,000 after purchasing an additional 343 shares during the last quarter. Royal Bank of Canada lifted its stake in Smartsheet by 1.0% in the 3rd quarter. Royal Bank of Canada now owns 37,005 shares of the company’s stock valued at $1,272,000 after purchasing an additional 364 shares during the last quarter. Signaturefd LLC lifted its stake in Smartsheet by 57.1% in the 3rd quarter. Signaturefd LLC now owns 1,073 shares of the company’s stock valued at $37,000 after purchasing an additional 390 shares during the last quarter. Amalgamated Bank lifted its stake in Smartsheet by 1.4% in the 3rd quarter. Amalgamated Bank now owns 28,532 shares of the company’s stock valued at $980,000 after purchasing an additional 397 shares during the last quarter. Finally, Commerce Bank lifted its stake in Smartsheet by 5.9% in the 4th quarter. Commerce Bank now owns 7,693 shares of the company’s stock valued at $303,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 89.50% of the company’s stock.

Smartsheet Company Profile

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Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.