Why Smartsheet Inc’s (SMAR) Stock Is Down 5.50% (2024)

Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Smartsheet Inc before investing.

In this article, we go over a few key elements for understanding Smartsheet Inc’s stock price such as:

Before we jump into Smartsheet Inc’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Smartsheet Inc. offers an enterprise platform for modern work management, enabling teams and organizations of all sizes to plan, capture, manage, automate, and report on work at scale. The Company’s platform enables teams of all sizes to manage custom processes, programs, and portfolios that fit the way they work. It delivers its cloud-based software platform through a subscription model globally. Its products include Smartsheet, WorkApps, Smartsheet Advance, Smartsheet Safeguard, Connectors, Control Center, Dynamic View, Data Shuttle, Bridge, Calendar App, Pivot App, DataMesh, Resource Management and Brandfolder. The Smartsheet is offered in a number of packages to meet the needs of customers looking to manage their programs, projects, and portfolios. In addition to its Smartsheet offering, it sells additional product offerings, referred to as Premium Apps and Connectors, enabling customers to build more complex solutions to address the demanding business work management need.

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As of May 30, 2024, 4:00 PM, CST, Smartsheet Inc’s stock price was $37.09.

Smartsheet Inc is down 5.5% from its previous closing price of $39.25.

During the last market session, Smartsheet Inc’s stock traded between $38.50 and $39.29. Currently, there are 136.42 million shares of Smartsheet Inc stock available for purchase.

Unfortunately, Smartsheet Inc’s P/E ratio is not significant enough to use for stock price evaluation. We recommend investors evaluate other financial metrics to understand its overall valuation.

Smartsheet Inc’s (SMAR) price is currently down 1.96% so far this month.

During the month of May, Smartsheet Inc’s stock price has reached a high of $42.42 and a low of $36.94.

Over the last year, Smartsheet Inc has hit prices as high as $52.81 and as low as $35.52. Year to date, Smartsheet Inc’s stock is down 5.77%.

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Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of May 29, 2024, there were 2 analysts who downgraded Smartsheet Inc’s stock and 14 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Smartsheet Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Smartsheet Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Smartsheet Inc’s current valuation based on AAII’s Value Grade is a F, which means it is considered to be Ultra Expensive.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Smartsheet Inc (SMAR) by visiting AAII Stock Evaluator.

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of May 29, 2024, Smartsheet Inc has a weighted four-quarter relative price strength of -9.97%, which translates to a Momentum Score of 32 and is considered to be Weak.

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As of May 30, 2024, Smartsheet Inc’s stock price is $37.09, which is down 5.5% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Smartsheet Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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