Needham Remains a Buy on SharpSpring (SHSP)

In a report released today, Scott Berg from Needham maintained a Buy rating on SharpSpring (SHSPResearch Report), with a price target of $25.00. The company’s shares closed last Tuesday at $19.85.

According to TipRanks.com, Berg is a top 100 analyst with an average return of 30.8% and a 72.8% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, BigCommerce Holdings, and Cornerstone Ondemand.

SharpSpring has an analyst consensus of Moderate Buy, with a price target consensus of $23.50, implying a 17.4% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $22.00 price target.

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SharpSpring’s market cap is currently $250M and has a P/E ratio of -36.70. The company has a Price to Book ratio of 21.75.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHSP in relation to earlier this year.

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SharpSpring, Inc. operates as a cloud-based based marketing technology company, which engages in the provision of marketing automation delivery through a cloud-based software-as-a-service platform. Its platform offers web tracking, lead scoring and automated workflow. The company was founded by Richard A. Carlson and Travis Whitton on October 14, 1998 and is headquartered in Gainesville, FL.