Stephens Remains a Buy on Smartsheet Inc (SMAR)

By Carrie Williams

Stephens analyst Ryan MacWilliams reiterated a Buy rating on Smartsheet Inc (SMARResearch Report) on September 5 and set a price target of $55. The company’s shares closed last Monday at $39.36.

According to TipRanks.com, MacWilliams is a 1-star analyst with an average return of -13.4% and a 0.0% success rate. MacWilliams covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Slack Technologies Inc, and Everbridge Inc.

Currently, the analyst consensus on Smartsheet Inc is a Strong Buy with an average price target of $56.43, which is a 43.4% upside from current levels. In a report issued on August 30, Wedbush also maintained a Buy rating on the stock with a $62 price target.

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Based on Smartsheet Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $19.11 million. In comparison, last year the company had a GAAP net loss of $12.3 million.

Based on the recent corporate insider activity of 148 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.