BUY, SELL, HOLD (2)

Smartsheet Stock Headed for Best Day Ever

The software company reported strong first-quarter results

Deputy Editor
Jun 6, 2024 at 10:53 AM
facebook X logo linkedin


Shares of Smartsheet Inc (NYSE:SMAR) are soaring today, up 18.7% at $44.85 at last look, following the software name's better-than-expected first-quarter results. No fewer than 11 analysts raised their price targets after the event, while Needham reaffirmed its "buy" rating. 

Should SMAR remain above a 17.8% gain today, it will beat out its March 15, 2023 win for its largest single-day percentage gain ever. Jumping above the 320-day moving average, which rejected the stock's May rally, the stock is trading at its highest level since February.

Part of SMAR's bounce could be attributed to its "oversold" standing, per its relative strength index (RSI) of 23.2. Year to date, the equity is still down 6.5%. 

In the options pits, Smartsheet stock has already seen 16 times its overall average daily volume. The June 45 is the most active contract, and also happens to be the most popular open interest (OI) position. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.