Smartsheet Inc (NYSE:SMAR) price on Thursday, October 24, rose 0.75% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $56.31.
A look at the stock’s price movement, the close in the last trading session was $55.89, moving within a range at $56.2 and $56.53. The beta value (5-Year monthly) was 0.752. Turning to its 52-week performance, $56.09 and $35.52 were the 52-week high and 52-week low respectively. Overall, SMAR moved 1.72% over the past month.
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Smartsheet Inc’s market cap currently stands at around $7.84 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 283.81M for the company’s revenue for the quarter, with a low and high estimate of 283.3M and 285.29M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.12B, representing a 16.80% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SMAR is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
17 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 13 recommend SMAR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SMAR’s current price about 1.05% and 6.78% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 72.65, while 7-day volatility ratio is 0.33% and 0.27% in the 30-day chart. Further, Smartsheet Inc (SMAR) has a beta value of 0.75, and an average true range (ATR) of 0.50. Analysts have given the company’s stock an average 52-week price target of $56.5, forecast between a low of $40 and high of $100. Looking at the price targets, the low is 28.96% off current price level while to achieve the yearly target high, price needs to move -77.59%. Nonetheless, investors will most likely welcome a -0.34% jump to $56.5 which is the analysts’ median price.
If we refocus on Smartsheet Inc (NYSE:SMAR), historical trading data shows that trading volumes averaged 2.89 over the past 10 days and 3.25 million over the past 3 months. The company’s latest data on shares outstanding shows there are 136.88 million shares.
The 7.60% of Smartsheet Inc’s shares are in the hands of company insiders while institutional holders own 81.95% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.69 million on 2024-09-30, giving us a short ratio of 0.43. The data shows that as of 2024-09-30 short interest in Smartsheet Inc (SMAR) stood at 199.00000000000003 of shares outstanding, with shares short rising to 1.72 million registered in 2024-08-30. Current price change has pushed the stock 17.75% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SMAR stock continues to rise going into the next quarter.
