Fintel reports that on August 9, 2023, Morgan Stanley maintained coverage of SmartRent Inc - (NYSE:SMRT) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 60.42% Upside
As of August 2, 2023, the average one-year price target for SmartRent Inc - is 5.33. The forecasts range from a low of 3.33 to a high of $8.40. The average price target represents an increase of 60.42% from its latest reported closing price of 3.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SmartRent Inc - is 272MM, an increase of 31.47%. The projected annual non-GAAP EPS is -0.24.
What is the Fund Sentiment?
There are 219 funds or institutions reporting positions in SmartRent Inc -. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to SMRT is 0.25%, an increase of 15.47%. Total shares owned by institutions increased in the last three months by 2.14% to 114,645K shares. 
The put/call ratio of SMRT is 0.15, indicating a bullish outlook.
What are Other Shareholders Doing?
Vulcan Value Partners holds 13,792K shares representing 6.91% ownership of the company. In it's prior filing, the firm reported owning 13,467K shares, representing an increase of 2.35%. The firm increased its portfolio allocation in SMRT by 1.22% over the last quarter.
Citigroup holds 9,680K shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 10,506K shares, representing a decrease of 8.53%. The firm decreased its portfolio allocation in SMRT by 14.88% over the last quarter.
VVPSX - Vulcan Value Partners Small Cap Fund Investor Class Shares holds 8,080K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 8,546K shares, representing a decrease of 5.78%. The firm decreased its portfolio allocation in SMRT by 9.11% over the last quarter.
Oaktree Capital Management holds 7,505K shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 4,379K shares, representing an increase of 41.65%. The firm increased its portfolio allocation in SMRT by 87.86% over the last quarter.
ACK Asset Management holds 5,905K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
SmartRent Background Information
(This description is provided by the company.)
Fifth Wall Acquisition Corp. I is a newly formed blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any industry, sector or geographical location, it intends to focus on industries that complement its management team's background, and to capitalize on the ability of its management team to identify and acquire a technology business focusing on verticals of the real estate industry, as well as the adjacent industries that collectively make up the human-made environment that provides the setting for human activity, ranging in scale from buildings to cities and beyond, which the Company calls the
Additional reading:
- ADI PRODUCT SALES AGREEMENT
- SmartRent Selects ADI Global Distribution as Preferred Distribution Partner Global distributor's geographic footprint and strong distribution channels will help improve smart technology leader’s cash position and lower inventory levels
- SmartRent Reports Second Quarter 2023 Results Fifth Consecutive Quarter of Improved Adjusted EBITDA - Clear Path to Profitability
- SmartRent Reports First Quarter 2023 Results Strong Quarter of Record Revenue and Significant Improvement in Gross Profit Drive Path to Profitability
- SmartRent Reports Fourth Quarter and Full-Year 2022 Results Delivers 52% Increase in Revenue and Continues to Drive Margin Improvement
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
