Look For Institutional Buying In Smartsheet Inc (NYSE: SMAR)

Smartsheet Inc (SMAR) concluded trading on Wednesday at a closing price of $55.86, with 3.74 million shares of worth about $208.9 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 34.63% during that period and on November 13, 2024 the price saw a gain of about 0.07%. Currently the company’s common shares owned by public are about 136.88M shares, out of which, 128.73M shares are available for trading.

Stock saw a price change of -0.32% in past 5 days and over the past one month there was a price change of -0.25%. Year-to-date (YTD), SMAR shares are showing a performance of 16.81% which increased to 38.54% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $35.52 but also hit the highest price of $56.55 during that period. The average intraday trading volume for Smartsheet Inc shares is 3.89 million. The stock is currently trading -0.39% below its 20-day simple moving average (SMA20), while that difference is up 2.09% for SMA50 and it goes to 22.29% higher than SMA200.

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Smartsheet Inc (NYSE: SMAR) currently have 136.88M outstanding shares and institutions hold larger chunk of about 80.19% of that.

The stock has a current market capitalization of $7.78B and its 3Y-monthly beta is at 0.71. It has posted earnings per share of -$0.31 in the same period. It has Quick Ratio of 1.45 while making debt-to-equity ratio of 0.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SMAR, volatility over the week remained 0.30% while standing at 0.33% over the month.

Stock’s fiscal year EPS is expected to rise by 63.30% while it is estimated to increase by 13.67% in next year. EPS is likely to grow at an annualized rate of 31.44% for next 5-years, compared to annual growth of -3.72% made by the stock over the past 5-years.

Coverage by BMO Capital Markets stated Smartsheet Inc (SMAR) stock as an Outperform in their note to investors on September 06, 2024, suggesting a price target of $59 for the stock. On March 21, 2024, KeyBanc Capital Markets Initiated their recommendations, while on March 11, 2024, BMO Capital Markets Reiterated their ratings for the stock with a price target of $48. Stock get an Underperform rating from BofA Securities on February 26, 2024.

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