SmartRent (NYSE:SMRT) Given New $4.00 Price Target at Keefe, Bruyette & Woods

by · The Markets Daily

SmartRent (NYSE:SMRT – Free Report) had its price target reduced by Keefe, Bruyette & Woods from $4.50 to $4.00 in a report issued on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an overweight rating on shares of SmartRent in a research note on Friday, January 12th. BTIG Research started coverage on shares of SmartRent in a report on Friday, January 19th. They set a buy rating and a $4.50 price target on the stock. Finally, Morgan Stanley cut their price target on shares of SmartRent from $3.40 to $3.20 and set an equal weight rating on the stock in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, SmartRent presently has a consensus rating of Moderate Buy and an average price target of $4.34.

Check Out Our Latest Stock Analysis on SmartRent

SmartRent Price Performance

NYSE:SMRT opened at $2.70 on Wednesday. The firm has a market capitalization of $550.45 million, a price-to-earnings ratio of -15.00 and a beta of 2.02. The business has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $2.95. SmartRent has a 1 year low of $2.15 and a 1 year high of $4.12.

SmartRent (NYSE:SMRT – Get Free Report) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $60.25 million for the quarter, compared to analysts’ expectations of $57.88 million. SmartRent had a negative net margin of 14.60% and a negative return on equity of 9.97%. The business’s quarterly revenue was up 48.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, analysts expect that SmartRent will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SmartRent

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in SmartRent by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 19,857,242 shares of the company’s stock worth $63,345,000 after acquiring an additional 713,493 shares in the last quarter. BlackRock Inc. grew its position in shares of SmartRent by 54.8% during the 2nd quarter. BlackRock Inc. now owns 13,499,406 shares of the company’s stock worth $51,703,000 after buying an additional 4,779,264 shares in the last quarter. ACK Asset Management LLC grew its position in shares of SmartRent by 3.0% during the 4th quarter. ACK Asset Management LLC now owns 6,080,400 shares of the company’s stock worth $19,396,000 after buying an additional 175,400 shares in the last quarter. State Street Corp grew its position in shares of SmartRent by 18.5% during the 2nd quarter. State Street Corp now owns 4,249,219 shares of the company’s stock worth $16,275,000 after buying an additional 664,723 shares in the last quarter. Finally, Old West Investment Management LLC grew its position in shares of SmartRent by 1.3% during the 2nd quarter. Old West Investment Management LLC now owns 3,680,222 shares of the company’s stock worth $14,095,000 after buying an additional 47,117 shares in the last quarter. 55.68% of the stock is currently owned by institutional investors.

SmartRent Company Profile

(Get Free Report)

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.

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