Holdings of Smartsheet Inc. (SMAR) are aligned with the stars

Smartsheet Inc. (NYSE: SMAR) stock jumped 1.78% on Wednesday to $47.41 against a previous-day closing price of $46.58. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.22 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $47.75 whereas the lowest price it dropped to was $45.79. The 52-week range on SMAR shows that it touched its highest point at $48.99 and its lowest point at $25.09 during that stretch. It currently has a 1-year price target of $50.85. Beta for the stock currently stands at 1.02.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SMAR was up-trending over the past week, with a rise of 3.11%, but this was up by 16.17% over a month. Three-month performance surged to 8.44% while six-month performance rose 67.64%. The stock gained 32.84% in the past year, while it has gained 20.45% so far this year. A look at the trailing 12-month EPS for SMAR yields -1.66 with Next year EPS estimates of 0.62. For the next quarter, that number is 0.07. This implies an EPS growth rate of -21.70% for this year and 75.92% for next year.

Float and Shares Shorts:

At present, 131.45 million SMAR shares are outstanding with a float of 127.18 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.17 million, which was 3.14% higher than short shares on Mar 30, 2023. In addition to Mr. Mark P. Mader as the firm’s Pres, CEO & Director, Mr. Brent R. Frei serves as its Co-Founder & Independent Director.

Institutional Ownership:

Through their ownership of 90.86% of SMAR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.73% of SMAR, in contrast to 4.14% held by mutual funds. Shares owned by individuals account for 39.90%. As the largest shareholder in SMAR with 11.01% of the stake, Capital Research & Management Co holds 14,591,666 shares worth 14,591,666. A second-largest stockholder of SMAR, The Vanguard Group, Inc., holds 12,329,913 shares, controlling over 9.30% of the firm’s shares. Brown Capital Management LLC is the third largest shareholder in SMAR, holding 6,020,120 shares or 4.54% stake. With a 5.88% stake in SMAR, the American Funds Small Cap World Fu is the largest stakeholder. A total of 7,791,126 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.93% of SMAR stock, is the second-largest Mutual Fund holder. It holds 3,887,882 shares valued at 158.9 million. American Funds Growth Fund of Ame holds 2.86% of the stake in SMAR, owning 3,789,626 shares worth 154.88 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2023, SMAR reported revenue of $168.31M and operating income of -$69.80M. The EBITDA in the recently reported quarter was -$63.72M and diluted EPS was -$0.55.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMAR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SMAR analysts setting a high price target of $57.00 and a low target of $40.00, the average target price over the next 12 months is $52.00. Based on these targets, SMAR could surge 20.23% to reach the target high and fall by -15.63% to reach the target low. Reaching the average price target will result in a growth of 9.68% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SMAR stock several times over the past three months with 2 Buys and 5 Sells. In these transactions, 3,617 shares were bought while 28,703 shares were sold. The number of buy transactions has increased to 100 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 321,723 while 152,134 shares were sold.

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