Smartsheet Inc. (SMAR): Investing In A Time Of Crisis

Smartsheet Inc. (NYSE:SMAR) currently has a daily average trading volume of 1.39M but it saw 3086382 shares traded on Thursday. With a market cap of 6.61B USD, stock’s current market price of $46.30 came rising about 2.59 while comparing to the previous closing price of $45.13. In past 52 weeks, the stock remained buoying in the range of price level as high as $58.22 and as low as $25.09. In the recent trading on the day, stock has struck highest price mark of $46.59 while lowest mark touched by it was $43.75.

Taking a look at 20-day trading activity of Smartsheet Inc. (SMAR) gives us an average price of $43.34, while its current price level is -20.47% below from 52-week high level whereas it is 84.54% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $42.83 while that of 200 days or SMA-200 reads an average of $36.14. A closer look into the stock’s movement over the week reveals that its volatility is standing at 7.75% during that period while stretching the period over a month that decreases to 4.31%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 58.08 which implies that the stock is in neutral territory.

The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Barclays which initiated the stock as “Equal Weight” in its note to investors issued on December 15, 2022, recommending a price target of $45 for it. Credit Suisse also issued its recommendations for the stock as it initiated the price target for the stock is $40.

Over the week, SMAR’s stock price is moving 7.40% up while it is 1.71% when we observe its performance for the past one month. Year-to-date it is 17.63% up and over the past year, the stock is showing an upside performance of 6.46%.

The latest quarterly earnings report issued by the company was for quarter ended 10/30/2022, when its quarterly earnings per share (EPS) of -$0.01 beat the consensus estimate of -$0.15 for the same. The company is expected to be releasing its next quarterly report in 06/07/2023, for which analysts forecasted an EPS of -$0.01 while estimate for next year EPS is -$0.31. For SMAR, analysts are forecasting an EPS-growth rate of -10.70% for current year and estimate for EPS growth in next year is 74.20%. In next quarter, company is expected to be making quarterly sales of $217.64 million as analysts are expecting the sales for current fiscal year at $760.84 million and seeing the company making $961.4 million in sales next year. Moreover, analysts are in estimates of $206.3 million for current-quarter revenue.

Currently, Smartsheet Inc.’s total number of outstanding shares is 130.63M with 3.13% of that held by the insiders while 92.05% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -33.70% and return on equity (ROE) at -46.80%. Stock’s beta reads 1.07. Stock has a price to book (P/B) ratio of 12.79 while price to sale or P/S ratio amounts to 9.28. Its return on asset (ROA) is -22.60% on average.

A filing at the U.S. Securities and Exchange Commission revealed that American Funds Small Cap World Fu came shrinking its share ownership by 20.46% in the Smartsheet Inc. (SMAR) increasing its stake to 5.83% with control over 1.3 million shares in the company. As per SEC documents, American Funds Small Cap World Fu sought 7,654,626 of company’s common stock of worth $336.96 million as per recent closing price of the stock. American Funds Small Cap World Fu is not the only institutional holder which restructured its stake in Smartsheet Inc., as Vanguard Total Stock Market Index picked 3,801,517 shares of worth $167.34 million to bring its holdings to a total of 22918.0 shares.