Smartsheet Inc (NYSE:SMAR) shares, rose in value, with the stock price up by 0.42% to the previous day’s close as strong demand from buyers drove the stock to $38.26.
Actively observing the price movement in the last trading, the stock closed the session at $38.10. The value of beta (5-year monthly) was 0.75. Referring to stock’s 52-week performance, its high was $52.81, and the low was $35.52. On the whole, SMAR has fluctuated by -7.63% over the past month.
With the market capitalization of Smartsheet Inc currently standing at about $5.26 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jun 05, 2024 – Jun 10, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.26, which is expected to increase to $0.28 for fiscal year $1.11 and then to about $1.42 by fiscal year 2026. Data indicates that the EPS growth is expected to be 30.60% in 2026, while the next year’s EPS growth is forecast to be 27.90%.
Analysts have estimated the company’s revenue for the quarter at $258.28 million, with a low estimate of $257.52 million and a high estimate of $260.02 million. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $1.12 billion, representing an increase of 16.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SMAR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SMAR currently trading nearly -2.92% and -9.67% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.33, while the 7-day volatility ratio is showing 2.43% which for the 30-day chart, stands at 3.24%. Furthermore, Smartsheet Inc (SMAR)’s beta value is 0.73, and its average true range (ATR) is 1.23.
A comparison of Smartsheet Inc (SMAR) with its peers suggests the former has fared considerably weaker in the market. SMAR showed an intraday change of 0.42% in last session, and over the past year, it shrunk by -19.94%%.
Data on historical trading for Smartsheet Inc (NYSE:SMAR) indicates that the trading volumes over the past 10 days have averaged 2.1 million and over the past 3 months, they’ve averaged 1.57 million. According to company’s latest data on outstanding shares, there are 136.88 million shares outstanding.
Nearly 4.23% of Smartsheet Inc’s shares belong to company insiders and institutional investors own 89.29% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.79 million shares as on Mar 15, 2024, resulting in a short ratio of 1.57. According to the data, the short interest in Smartsheet Inc (SMAR) stood at 2.03% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.78 million. The stock has fallen by -19.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SMAR stock heading into the next quarter.
