14 analysts have expressed a variety of opinions on Smartsheet SMAR over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 9 | 3 | 2 | 0 | 0 |
| Last 30D | 6 | 2 | 2 | 0 | 0 |
| 1M Ago | 2 | 1 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $57.21, a high estimate of $63.00, and a low estimate of $50.00. Observing a 7.52% increase, the current average has risen from the previous average price target of $53.21.
Breaking Down Analyst Ratings: A Detailed Examination
The perception of Smartsheet by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Tyler Radke | Citigroup | Raises | Buy | $63.00 | $55.00 |
| John Difucci | Guggenheim | Raises | Buy | $62.00 | $60.00 |
| David Hynes | Canaccord Genuity | Raises | Buy | $60.00 | $52.00 |
| Keith Bachman | BMO Capital | Raises | Outperform | $59.00 | $48.00 |
| Robert Simmons | DA Davidson | Maintains | Buy | $55.00 | $55.00 |
| Terry Tillman | Truist Securities | Raises | Buy | $60.00 | $55.00 |
| Josh Baer | Morgan Stanley | Raises | Overweight | $57.00 | $55.00 |
| Rishi Jaluria | RBC Capital | Raises | Sector Perform | $51.00 | $43.00 |
| Ryan Macwilliams | Barclays | Raises | Equal-Weight | $50.00 | $45.00 |
| Scott Berg | Needham | Maintains | Buy | $57.00 | $57.00 |
| Taylor McGinnis | UBS | Raises | Buy | $61.00 | $56.00 |
| Terry Tillman | Truist Securities | Maintains | Buy | $55.00 | $55.00 |
| Josh Baer | Morgan Stanley | Raises | Overweight | $55.00 | $53.00 |
| John Difucci | Guggenheim | Maintains | Buy | $56.00 | $56.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Smartsheet. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Smartsheet compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Smartsheet's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Smartsheet analyst ratings.
Delving into Smartsheet's Background
Smartsheet is a provider of collaborative work management software delivered via a cloud-based, software-as-a-service model. The firm's solution offers scalable, dynamic tools to improve the efficiency of project and process management across countless use cases. Smartsheet's offering supports workflow management across teams, provides real-time visibility into projects, and reporting and automation capabilities. The firm generates revenue via software subscriptions on a per-user basis, and incremental charges for added platform capabilities.
Smartsheet's Financial Performance
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Smartsheet's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 19.6% as of 30 April, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Smartsheet's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -3.37%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -1.43%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Smartsheet's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -0.67%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Smartsheet's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.07.
How Are Analyst Ratings Determined?
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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