SmartRent (NYSE:SMRT) Stock Rating Reaffirmed by DA Davidson

DA Davidson reiterated their buy rating on shares of SmartRent (NYSE:SMRT - Free Report) in a research report sent to investors on Wednesday, Benzinga reports. DA Davidson currently has a $3.25 price target on the stock.

Several other equities research analysts also recently commented on SMRT. Keefe, Bruyette & Woods lowered their price objective on shares of SmartRent from $4.50 to $4.00 and set an outperform rating for the company in a research note on Wednesday, March 6th. BTIG Research assumed coverage on SmartRent in a research note on Friday, January 19th. They issued a buy rating and a $4.50 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SmartRent presently has an average rating of Moderate Buy and an average target price of $3.99.

SmartRent Trading Down 1.9 %

Shares of SMRT stock traded down $0.06 during trading hours on Wednesday, reaching $2.78. 3,164,122 shares of the company's stock were exchanged, compared to its average volume of 1,353,866. The company has a market cap of $560.08 million, a price-to-earnings ratio of -18.60 and a beta of 2.00. SmartRent has a fifty-two week low of $2.20 and a fifty-two week high of $4.12. The stock's 50 day moving average is $2.55 and its 200-day moving average is $2.86.

SmartRent (NYSE:SMRT - Get Free Report) last issued 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 business had revenue of $60.25 million during the quarter, compared to analyst estimates of $57.88 million. SmartRent had a negative return on equity of 7.28% and a negative net margin of 13.08%. SmartRent's revenue was up 48.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. Equities analysts anticipate that SmartRent will post -0.06 EPS for the current year.

Institutional Investors Weigh In On SmartRent

Several hedge funds have recently bought and sold shares of SMRT. JGP Wealth Management LLC raised its holdings in SmartRent by 13.3% in the 4th quarter. JGP Wealth Management LLC now owns 40,392 shares of the company's stock worth $129,000 after purchasing an additional 4,748 shares during the period. Victory Capital Management Inc. raised its position in SmartRent by 30.7% during the fourth quarter. Victory Capital Management Inc. now owns 22,428 shares of the company's stock worth $72,000 after acquiring an additional 5,264 shares during the period. Simon Quick Advisors LLC lifted its holdings in SmartRent by 36.2% during the fourth quarter. Simon Quick Advisors LLC now owns 25,326 shares of the company's stock valued at $81,000 after purchasing an additional 6,738 shares in the last quarter. Boston Partners increased its stake in shares of SmartRent by 1.4% during the third quarter. Boston Partners now owns 494,223 shares of the company's stock worth $1,290,000 after purchasing an additional 7,046 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in SmartRent by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 27,239 shares of the company's stock worth $71,000 after buying an additional 7,670 shares in the last quarter. Hedge funds and other institutional investors own 59.42% of the company's stock.

SmartRent Company Profile

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.