Smartsheet Inc. (SMAR) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Smartsheet Inc. (NYSE: SMAR) stock fell -1.19% on Monday to $41.52 against a previous-day closing price of $42.02. With 0.83 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.57 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $42.42 whereas the lowest price it dropped to was $41.16. The 52-week range on SMAR shows that it touched its highest point at $52.81 and its lowest point at $25.09 during that stretch. It currently has a 1-year price target of $52.79. Beta for the stock currently stands at 0.95.

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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 down-trending over the past week, with a drop of -5.27%, but this was up by 5.54% over a month. Three-month performance dropped to -1.17% while six-month performance fell -10.52%. The stock gained 9.81% in the past year, while it has gained 5.49% so far this year. A look at the trailing 12-month EPS for SMAR yields -1.11 with Next year EPS estimates of 0.77. For the next quarter, that number is 0.09. This implies an EPS growth rate of -21.70% for this year and 40.33% for next year.

Float and Shares Shorts:

At present, 133.83 million SMAR shares are outstanding with a float of 130.36 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.8 million, which was 2.82% higher than short shares on Jul 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 91.54% of SMAR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.89% of SMAR, in contrast to 4.04% held by mutual funds. Shares owned by individuals account for 38.70%. As the largest shareholder in SMAR with 11.86% of the stake, Capital Research & Management Co holds 15,848,045 shares worth 15,848,045. A second-largest stockholder of SMAR, The Vanguard Group, Inc., holds 12,853,167 shares, controlling over 9.62% of the firm’s shares. Brown Capital Management LLC is the third largest shareholder in SMAR, holding 6,364,160 shares or 4.76% stake. With a 5.93% stake in SMAR, the American Funds Small Cap World Fu is the largest stakeholder. A total of 7,917,229 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.91% of SMAR stock, is the second-largest Mutual Fund holder. It holds 3,890,321 shares valued at 162.34 million. American Funds Growth Fund of Ame holds 2.84% of the stake in SMAR, owning 3,789,626 shares worth 158.14 million.

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 $60.00 and a low target of $43.00, the average target price over the next 12 months is $53.07. Based on these targets, SMAR could surge 44.51% to reach the target high and rise by 3.56% to reach the target low. Reaching the average price target will result in a growth of 27.82% 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 20 Buys and 7 Sells. In these transactions, 40,498 shares were bought while 11,478 shares were sold. The number of buy transactions has increased to 112 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 362,616 while 125,443 shares were sold.

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