Ya sure about this? It's been chopping all throughout 2023. I would feel more comfy taking a short position, now that it's trading near the upper channel.
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I am quite positive on SMAR. Choppiness? Who cares. 2024 is for catch up plays-- I am looking fore EXACTLY these type of ideas 1> Hopefully AI ish 2> with a prior high within grasp or under the price. I will not be chasing any names.
This may look choppy but in fact Over the past quarter, shares of Smartsheet have risen 21.08%, and are up 28.67% in the last year. On the other hand, the S&P 500 has only moved 12.63% and 26.05%, respectively.
So we have recent out performance to a name that has been at this price level before! Now we ask what is in the future?
Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost SMAR's consensus estimate, increasing from $0.54 to $0.69 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.
