Wall Street’s Top Analysts Upgrades, Downgrades & Initiations

Wall Street’s Top Analysts Upgrades, Downgrades & Initiations

$SMAR, $DOCU

Daily HeffX-LTN reviews Wall Street analysts research reports to find new investing and trading ideas for our readers. Some reports cover stocks to buy, and others cover stocks to sell or avoid.

Below is a list of Wall Street’s Top analysts outlook for Key issues for Friday, as follows:

Recent IPOs DocuSign Inc. (NASDAQ:DOCU) and  Smartsheet Inc. (NYSE:SMAR)  have seen their respective quiet periods come to an end. Each company has seen strong growth since its IPO.

Analysts are now calling for them to run higher

Each of these firms has a role in simplification platforms that businesses and enterprises are starting to use regularly.

Both companies have a path toward profitability,that is if they deliver in the coming Quarters and years.

DocuSign (NASDAQ:DOCU), this firm priced its IPO at 29 per share in late April but it entered the market at 38, almost 33% above the price. The stock is up about 49% from the IPO pricing.

DocuSign operates a cloud-based platform that enables more than 370,000 companies and hundreds of millions of users to make nearly every agreement, approval process or transaction digital from practically any device, virtually anywhere in the world, securely.

Below is what analysts are saying now that the quiet period has ended, as follows:

  • Citigroup initiated it with a Buy rating and a 59 price target.
  • Deutsche Bank initiated it at Hold with a 45 price target.
  • JMP Securities started it at Market Perform rating with a 52 price target.
  • JPMorgan initiated DocuSign as Overweight with a 53 price target.
  • Morgan Stanley started it as Equal Weight with a 42 price target.
  • Piper Jaffray started it as Overweight with a 52 price target.

Shares of DocuSign finished Thursday at 46.80, with a post-IPO range of 37.00 – 47.50

 

Smartsheet(NYSE:SMAR), this firm priced its IPO at 15. share, but entered the market at 18.40, about 23% above the price. Compared to the original pricing, the stock is up about 37% from the IPO.

This company is a leading cloud-based platform for work execution, enabling teams and organizations to plan, capture, manage, automate and report on work at scale, resulting in more efficient processes and better business outcomes.

Below is what analysts are saying now that the quiet period has ended, as follows:

  • Canaccord Genuity started Smartsheet as Buy with a 23 price target.
  • Jefferies started it as Buy with a 25 price target.
  • Morgan Stanley initiated it with an Overweight rating and a 24 target.
  • RBC Capital Markets initiated it as Outperform with a 24 price target.
  • SunTrust Robinson Humphrey started Smartsheet as Buy.
  • William Blair started it as Outperform.
  • JPMorgan issued an Overweight rating and a 22 price target.

Shares of Smartsheet finished Thursday at 22.23, with a post-IPO range of 14.50 -22.38.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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