SharpSpring (NASDAQ:SHSP) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of SharpSpring (NASDAQ:SHSP) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

According to Zacks, “SharpSpring, Inc. provide cloud-based marketing and email software solutions consists of marketing automation to scalable transactional email, email marketing and mobile marketing services. The company’s product lines include SharpSpring, SMTP and GraphicMail. SharpSpring, Inc., formerly known as SMTP Inc., is based in Gainesville, United States. “

Separately, ValuEngine upgraded shares of SharpSpring from a buy rating to a strong-buy rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $16.71.

SHSP traded up $0.11 during trading hours on Thursday, hitting $12.27. 49,500 shares of the company’s stock were exchanged, compared to its average volume of 50,850. SharpSpring has a 1-year low of $8.10 and a 1-year high of $21.10. The stock’s 50-day moving average is $11.00 and its two-hundred day moving average is $10.67. The stock has a market cap of $137.51 million, a price-to-earnings ratio of -9.98 and a beta of 1.05. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.19.

SharpSpring (NASDAQ:SHSP) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.23) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). SharpSpring had a negative net margin of 54.83% and a negative return on equity of 44.29%. The business had revenue of $5.72 million during the quarter, compared to analysts’ expectations of $5.71 million. On average, equities research analysts anticipate that SharpSpring will post -1.18 EPS for the current year.

In other SharpSpring news, major shareholder Cat Rock Capital Management Lp sold 3,213 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $8.63, for a total value of $27,728.19. In the last quarter, insiders sold 13,699 shares of company stock valued at $132,528. Corporate insiders own 25.55% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in SharpSpring in the second quarter valued at $30,000. Wells Fargo & Company MN lifted its stake in SharpSpring by 47.0% in the second quarter. Wells Fargo & Company MN now owns 7,205 shares of the technology company’s stock valued at $93,000 after acquiring an additional 2,302 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in SharpSpring in the third quarter valued at $97,000. Steward Partners Investment Advisory LLC lifted its stake in SharpSpring by 14.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 11,898 shares of the technology company’s stock valued at $115,000 after acquiring an additional 1,457 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in SharpSpring by 20.8% in the third quarter. California State Teachers Retirement System now owns 15,935 shares of the technology company’s stock valued at $155,000 after acquiring an additional 2,743 shares during the last quarter. Hedge funds and other institutional investors own 48.35% of the company’s stock.

About SharpSpring

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

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