Smartsheet Inc. (NYSE:SMAR) is one of the best performers on the stock market today. At current price of $41.9, the shares have already added 1.73 points (4.31% higher) from its previous close of $40.17. Should you buy or avoid them? The stock sets an active trading volume day with a reported 639275 contracts so far this session. SMAR shares had a relatively better volume day versus average trading capacity of 1.4 million shares, but with a 47.37 million float and a -3.55% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SMAR stock indicates that the average analyst price target is $51.89 per share. This means the stock has a potential increase of 23.84% from where the SMAR share price has been trading recently which is between $39.3464 and $40.55. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $45.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Yale Made Some Savvy Stock Trades in the First Quarter” and dated May 11, 2019.
During the recent trading session for Smartsheet Inc. (NYSE:SMAR), the company witnessed their stock drop by $-0.08 over a week and surge $1.25 from the price 20 days ago. When compared to their established 52-week high of $49.04, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/20/19. The recent low of $19.12 stood for a -14.56% since 05/17/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Smartsheet Inc., the two-week RSI stands at 52.73. This figure suggests that SMAR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SMAR readings is similarly very revealing as it has a stochastic reading of 37.34% at this stage. This figure means that SMAR share price today is being neutral.
Technical chart claims that Smartsheet Inc. (SMAR) would settle between $40.7/share to $41.23/share level. However, if the stock price goes below the $39.49 mark, then the market for Smartsheet Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $38.82 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.98. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Needham, assumed coverage of SMAR assigning Buy rating, according to their opinion released on April 12. DA Davidson, analysts launched coverage of Smartsheet Inc. (NYSE:SMAR) stock with a Buy recommendation, according to their flash note issued to investors on March 22. Analysts at Canaccord Genuity are sticking to their Buy stance. However, on March 20, they lifted price target for these shares to $53 from $35.
SMAR equity has an average rating of 1.64, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Smartsheet Inc. (NYSE:SMAR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SMAR stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 24 while for the average stock in the same group, the multiple is 8.01.
Smartsheet Inc. (SMAR)’s current-quarter revenues are projected to climb by nearly 50.22% to hit $54.56 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 43.64% from $177720 to a noteworthy $255280. At the other end of the current quarter income statement, Smartsheet Inc. is expected to see its adjusted earnings surge by roughly -50% to hit $-0.18 per share. For the fiscal year, SMAR’s earnings are projected to climb by roughly -58.33% to hit $-0.57 per share.