SMAR Smartsheet Options Ahead of EarningsAnalyzing the options chain and the chart patterns of SMAR Smartsheet prior to the earnings report this week,
I would consider purchasing the 55usd strike price Calls with
an expiration date of 2024-7-19,
for a premium of approximately $1.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Smartsheet
Key Ratings on Smartsheet (NYSE: $SMAR)Smartsheet (NYSE: NYSE:SMAR ) had its price target lifted by BMO Capital Markets from $50.00 to $52.00 in a research report report published on Friday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.
Several other equities research analysts have also recently weighed in on SMAR. KeyCorp upped their target price on Smartsheet from $52.00 to $53.00 and gave the stock an overweight rating in a research note on Friday. Morgan Stanley reissued an overweight rating and set a $56.00 target price on shares of Smartsheet in a research report on Tuesday, October 3rd. Barclays lifted their price target on shares of Smartsheet from $45.00 to $50.00 and gave the stock an equal weight rating in a report on Friday, September 8th.
UBS Group initiated coverage on shares of Smartsheet in a report on Thursday, October 12th. They set a buy rating and a $60.00 target price on the stock. Finally, Needham & Company LLC reissued a buy rating and set a $57.00 target price on shares of Smartsheet in a report on Wednesday, September 20th.
Institutional Investors Weigh In On Smartsheet
A number of large investors have recently added to or reduced their stakes in SMAR. Castleview Partners LLC acquired a new stake in Smartsheet in the third quarter valued at approximately $39,000. Pacer Advisors Inc. acquired a new position in Smartsheet during the second quarter worth about $55,000. Newbridge Financial Services Group Inc. increased its stake in Smartsheet by 76.2% in the 2nd quarter.
Newbridge Financial Services Group Inc. now owns 1,630 shares of the company’s stock worth $62,000 after purchasing an additional 705 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in Smartsheet during the 2nd quarter valued at about $79,000. Finally, American International Group Inc. lifted its holdings in shares of Smartsheet by 23.3% during the 2nd quarter.
American International Group Inc. now owns 2,332 shares of the company’s stock valued at $89,000 after buying an additional 441 shares during the last quarter. 88.99% of the stock is owned by institutional investors and hedge funds.
SMAR /confirming pullbackTechnical analysis
200sma & 100sma are now working as our support. This is specially important as they just recently reported earnings (check fundamental analysis below).
There is also a Fibonacci confluence setting support at $43.
Risk-reward-ratio ---> 3.5:1
Entry ---> $44.5
Profit-exit ---> $54
Stop-loss ---> $41.89
Next short-term resistance ---> $47.5
Support after our stop-loss ---> $40.5 = 50sma
Fundamental analysis
Smartsheet beats by $0.03, beats on revs; guides Q4 (Jan) EPS in-line, revs in-line.
SMAR reported 3rd Quarter 2020 diluted losses (ex-items) of $0.25 per share. This missed last year's same period results by 63%.
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Previous SMAR analysis:
Smartsheet - no longer downtrendTechnical analysis
SMA:
For the past 4 days, SMAR rallied of the 50sma with above average volume.
It took out its short-term resistance at the 200sma, and is currently crossing 100sma today (nov.20.2019).
RSI @67 on an uptrend
OBV is higher than early june when stock price was also $45, indicating accumulation (Bull).
**The healthcare is also breaking upwards and has strong momentum.