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. It also offers professional services to customers, which include training, installation, and support services. The company was founded in 2017 and is headquartered in Scottsdale, Arizona.
IPO Year:
Exchange: NASDAQ
Website: smartrent.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/8/2024 | Outperform → Mkt Perform | Keefe Bruyette | |
| 8/8/2024 | $4.00 → $2.00 | Overweight → Neutral | Cantor Fitzgerald |
| 8/2/2024 | Buy → Neutral | BTIG Research | |
| 7/31/2024 | Buy → Neutral | Colliers Securities | |
| 7/31/2024 | $3.25 → $2.00 | Buy → Neutral | DA Davidson |
| 1/19/2024 | $4.50 | Buy | BTIG Research |
| 8/16/2022 | $6.00 | Outperform | Imperial Capital |
| 7/22/2022 | $6.00 | Overweight | Cantor Fitzgerald |
| 5/25/2022 | $8.00 | Buy | Compass Point |
| 2/15/2022 | $9.00 | Equal-Weight | Morgan Stanley |
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SmartRent, Inc. (NYSE:SMRT), the leading provider of smart home and property operations solutions for the rental housing industry, today announced the appointment of Daryl Stemm as its Chief Financial Officer. Mr. Stemm, who has served as the Company's senior vice president of finance since 2021, brings four decades of experience in finance, accounting, treasury and risk management to the role. Prior to joining SmartRent, he held senior finance positions with Best Western Hotels and Invitation Homes (NYSE:INVH), and served as CFO at Home Director, Inc., and Catalyst Semiconductor, Inc. In his career, he has completed four IPOs and more than 10 mergers and acquisitions. He holds a Bachelor
Following SmartRent's acquisition of SightPlan in Q1, Danner will lead the sales team and growth of SmartRent's integrated offerings for multifamily owners and operators SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and smart building automation for residents, property owners, managers, developers and homebuilders, today announced the appointment of Terry Danner, CEO of multifamily workflow management leader SightPlan, as its Executive Vice President of Sales. The news follows SmartRent's acquisition of SightPlan in March 2022, which marked an advancement for SmartRent's cloud-based SaaS capabilities and services. In his new role, Danner will
Young will lead the pacesetting PropTech's marketing function SmartRent, Inc. (NYSE:SMRT) (the "Company" or "SmartRent"), a leading provider of smart home and smart building automation for property owners, managers, developers, homebuilders and residents, today announced the appointment of Robyn Young as the company's first chief marketing officer (CMO). In this new role, Young will be responsible for the Company's overall marketing strategy. Joining the team on May 9, 2022, she will be based at the Company's headquarters in Scottsdale, Ariz. "Robyn is a highly experienced, strong marketing leader who brings an impressive track record in commercial and mixed-use real estate and finance ex
Okamoto's experience spans finance and business development to entrepreneurship and investment SmartRent, Inc. (NYSE:SMRT) (the "Company" or "SmartRent"), a leading provider of smart home and smart building automation for property owners, managers, developers, homebuilders and residents, today announced the appointment of Hiroshi Okamoto as chief financial officer (CFO). Joining the Company on May 9, 2022, he will be based at SmartRent's headquarters in Scottsdale, Ariz. "Hiroshi will play an important role in SmartRent's operational excellence," said Lucas Haldeman, CEO of SmartRent. "He brings an impressive track record of leadership in strategy, finance and accounting across early-stag
SmartRent, Inc. (NYSE:SMRT) (the "Company" or "SmartRent"), a leading provider of smart home and smart building automation for property owners, managers, developers, homebuilders, and residents, today announced the appointment of Brian Roberts as Chief Legal Officer. Mr. Roberts, a seasoned public company executive with over 20 years of corporate legal experience, will oversee all legal, corporate governance and compliance matters for the Company. Mr. Roberts joins SmartRent after nine years as General Counsel with Grand Canyon University where he led a broad range of legal initiatives including real estate acquisitions, drafting and closing a variety of agreements and transactions, managi
SmartRent, Inc. (NYSE:SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced it will release third quarter of financial year 2024 results and host a conference call on Wednesday, November 6. Third quarter 2024 financial results will be released before the market opens, and at 11:30 a.m. ET, John Dorman, Chairman of the Board, and Daryl Stemm, Chief Financial Officer and Interim Principal Executive Officer, will host a conference call and webcast to discuss the Company's performance. The press release and supporting materials will be available in the Events and Presentations section of the Company's Investor Relations we
Delivers Record SaaS Annual Recurring Revenue ("ARR") of $51.2 million in Q2 2024 SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities and smart operations solutions for the rental housing industry, today reported financial results for the three months ended June 30, 2024. Management is hosting an investor call to discuss results today, August 7, 2024, at 11:30 a.m. Eastern Time. Financial and Business Highlights for the Second Quarter 2024 Total Revenue of $48.5 million, decreased by 9 percent year-over year. SaaS Revenue of $12.8 million, increased by 32 percent year-over year. Net Loss of $(4.6) million, improved by 56 percent f
Lucas Haldeman Steps Down as CEO and Resigns from Board Board of Directors Forms Operating Committee to Oversee Company's Operations Management Committee of Current SmartRent Executives to Guide Company on Interim Basis Company Suspends Full-Year 2024 Outlook SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced a CEO transition plan under which Lucas Haldeman has stepped down from his position as Chief Executive Officer and resigned from the Board of Directors, effective July 29, 2024. John Dorman, the Board's lead independent director, has been appointed Ch
SmartRent, Inc. (NYSE:SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced it will release second quarter of financial year 2024 results and host a conference call on Wednesday, August 7. Second Quarter 2024 financial results will be released before the market opens, and at 11:30 a.m. ET, Lucas Haldeman, Chief Executive Officer, and Daryl Stemm, Chief Financial Officer, will host a conference call and webcast to discuss the Company's performance. The press release and supporting materials will be available in the Events and Presentations section of the Company's Investor Relations website. SmartRent Second Quarter 2
Sets New Record with $47.6 million SaaS Annual Recurring Revenue ("ARR") in Q1 2024 Confirms 2024 Growth Outlook; Enables Expansion and Innovation SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three months ended March 31, 2024. Management is hosting an investor call to discuss results today, May 8, 2024, at 11:30 a.m. Eastern Time. Financial and Business Highlights for the First Quarter 2024 Total Revenue of $50.5 million, decreased by 22 percent year-over year. SaaS Revenue of $11.9 million, increased by 32 percent year-over
SmartRent, Inc. (NYSE:SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced it will release first quarter of financial year 2024 results and host a conference call on Wednesday, May 8. First quarter 2024 financial results will be released before the market opens and, at 11:30 a.m. ET, Lucas Haldeman, Chief Executive Officer, and Daryl Stemm, Chief Financial Officer, will host a conference call and webcast to discuss the Company's performance. The press release and supporting materials will be available in the Events and Presentations section of the Company's Investor Relations website. SmartRent First Quarter 2024 Fi
Ended the Year with $216 million in Cash, Cash Equivalents and Restricted Cash Announcing $50 million Share Repurchase Program, Investment in Community WiFi Solution SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three months and year ended December 31, 2023. Management is hosting an investor call to discuss results today, March 5, 2024, at 10:30 a.m. Eastern Time. Financial and Business Highlights for the Fourth Quarter and Full-Year 2023 Revenue of $60.3 million and $236.8 million for Q4 and full year, respectively, up 49% and 4
NEW YORK, Feb. 13, 2024 /PRNewswire/ -- Today, Harris R. Heyer and Michael J. Holder, Partners of 10th Mountain Management LLC ("we"), as Investment Managers to Scout Fund I, LP, which is a beneficial stockholder of SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), issued the following open letter to the SmartRent Board of Directors (the "Board"), Mr. Lucas Haldeman (Chairman & CEO) and all shareholders: Dear Members of the Board, Mr. Haldeman, and SmartRent shareholders, Since merging with Fifth Wall Acquisition Corp. I (FWAA), SmartRent's shares have plunged more than 70%1. We believe this alarming decline reflects investor disappointment2, confusion, and skepticism. We are trou
SmartRent, Inc. (NYSE:SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced it will release fourth quarter and financial year 2023 results and host a conference call on Tuesday, March 5. Fourth quarter and year- end 2023 financial results will be released before the market opens and, at 10:30 a.m. ET, Lucas Haldeman, Chief Executive Officer, and Daryl Stemm, Chief Financial Officer, will host a conference call and webcast to discuss the Company's performance. The press release and supporting materials will be available in the Events and Presentations section of the Company's Investor Relations website. SmartRent Four
Sixth Consecutive Quarter of Improved Adjusted EBITDA, Record High Hardware and Hosted Services Margins – Increased Cash by $14 million SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three months ended September 30, 2023. Management is hosting an investor call to discuss results today, November 7, 2023, at 10:30 a.m. Eastern Time. Third Quarter 2023 Financial and Business Highlights Revenue of $58.1 million, up 22% year-over-year. Gross profit of $13.5 million, up over 1,000% year-over-year. Net loss of $(7.7) million, a 70% i
Work Management Dashboards mark next phase of platform: optimizes task performance reporting into a single screen offering quick, simple visual understanding for all levels SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the launch of its maintenance Dashboards designed to optimize property performance through expanded reporting functionality and enhanced visibility from the property level to portfolio managers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241119964801/en/SmartRent's
Dynamic Touring Technology Continues to Reshape the Way Prospective Residents Experience Rental Properties SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the one millionth property tour conducted through its comprehensive Self-Guided Tours solution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241017229697/en/A SmartRent survey of 1,004 U.S. renters conducted in September of this year by Morning Consult revealed crucial self-guided touring trends. (Graphic: Business Wire) The mileston
SmartRent, Inc. (NYSE:SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced it will release third quarter of financial year 2024 results and host a conference call on Wednesday, November 6. Third quarter 2024 financial results will be released before the market opens, and at 11:30 a.m. ET, John Dorman, Chairman of the Board, and Daryl Stemm, Chief Financial Officer and Interim Principal Executive Officer, will host a conference call and webcast to discuss the Company's performance. The press release and supporting materials will be available in the Events and Presentations section of the Company's Investor Relations we
Hub provides user-friendly control of smart devices in rental homes SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the launch of its next-generation Alloy Fusion, a wall-mounted Z-Wave hub with integrated thermostat. As the latest edition to SmartRent's hub series under the Company's Alloy hardware brand, the new Alloy Fusion builds on the technology from the original iteration of Alloy Fusion the Company launched in 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241003764209/en/S
With over two decades of proven proptech and multifamily experience, Cariola will oversee SmartRent's revenue operations and business expansion initiatives SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced Natalie Cariola is joining the Company as its Chief Revenue Officer ("CRO"), effective September 30. Cariola will be a member of the recently formed Management Committee, which reports to SmartRent's Chairman of the Board, John Dorman. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/202409194
Work Management and Answer Automation solutions streamlined workflow and communication SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the successful rollout of SmartRent Work Management and Answer Automation with Capital Square Living, assisting with the transition of the firm's owned assets to in-house management. In 2023, Capital Square Living began ambitiously shifting its 14,000 owned units from third-party to in-house management, at a rate of 800-1,000 units every 30 days. To improve workflow and communication throughout its portfolio, Capit
Delivers Record SaaS Annual Recurring Revenue ("ARR") of $51.2 million in Q2 2024 SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities and smart operations solutions for the rental housing industry, today reported financial results for the three months ended June 30, 2024. Management is hosting an investor call to discuss results today, August 7, 2024, at 11:30 a.m. Eastern Time. Financial and Business Highlights for the Second Quarter 2024 Total Revenue of $48.5 million, decreased by 9 percent year-over year. SaaS Revenue of $12.8 million, increased by 32 percent year-over year. Net Loss of $(4.6) million, improved by 56 percent f
Lucas Haldeman Steps Down as CEO and Resigns from Board Board of Directors Forms Operating Committee to Oversee Company's Operations Management Committee of Current SmartRent Executives to Guide Company on Interim Basis Company Suspends Full-Year 2024 Outlook SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced a CEO transition plan under which Lucas Haldeman has stepped down from his position as Chief Executive Officer and resigned from the Board of Directors, effective July 29, 2024. John Dorman, the Board's lead independent director, has been appointed Ch
SmartRent, Inc. (NYSE:SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced it will release second quarter of financial year 2024 results and host a conference call on Wednesday, August 7. Second Quarter 2024 financial results will be released before the market opens, and at 11:30 a.m. ET, Lucas Haldeman, Chief Executive Officer, and Daryl Stemm, Chief Financial Officer, will host a conference call and webcast to discuss the Company's performance. The press release and supporting materials will be available in the Events and Presentations section of the Company's Investor Relations website. SmartRent Second Quarter 2
Real estate technology leader brings data analytics expertise, a proven track record of profitable growth and stakeholder value creation SmartRent, Inc. (NYSE:SMRT), the leading provider of smart communities and smart operations solutions for the rental housing industry, today announced the addition of Frank Martell, President and CEO of loanDepot, Inc. (NYSE:LDI) and real estate data analytics and business intelligence platform leader, to its Board of Directors. He will serve on the Board's Audit and Nominating and Corporate Governance Committees. Martell brings more than 30 years of executive leadership experience, along with a data-driven, digital-first perspective to support the acc
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Keefe Bruyette downgraded SmartRent from Outperform to Mkt Perform
Cantor Fitzgerald downgraded SmartRent from Overweight to Neutral and set a new price target of $2.00 from $4.00 previously
BTIG Research downgraded SmartRent from Buy to Neutral
Colliers Securities downgraded SmartRent from Buy to Neutral
DA Davidson downgraded SmartRent from Buy to Neutral and set a new price target of $2.00 from $3.25 previously
BTIG Research initiated coverage of SmartRent with a rating of Buy and set a new price target of $4.50
Imperial Capital initiated coverage of SmartRent with a rating of Outperform and set a new price target of $6.00
Cantor Fitzgerald resumed coverage of SmartRent with a rating of Overweight and set a new price target of $6.00
Compass Point initiated coverage of SmartRent with a rating of Buy and set a new price target of $8.00
Morgan Stanley initiated coverage of SmartRent with a rating of Equal-Weight and set a new price target of $9.00
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BTIG analyst Soham Bhonsle maintains SmartRent (NYSE:SMRT) with a Buy and lowers the price target from $4.3 to $4.
DA Davidson analyst Tom White maintains SmartRent (NYSE:SMRT) with a Buy and maintains $3.25 price target.
Shares of Alibaba Group Holding Limited (NYSE:BABA) fell sharply during Tuesday's session following mixed first-quarter financial results. The e-commerce giant reported fiscal fourth-quarter 2023 revenue growth of 7% year-on-year to $30.73 billion, beating the analyst consensus estimate of $30.40 billion. Adjusted earnings per ADS of $1.40 missed the analyst consensus estimate of $1.41, according to data from Benzinga Pro. Alibaba Group shares tumbled 6.8% to $78.86 on Tuesday. Here are some other stocks moving in today’s mid-day session. Gainers Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) shares jumped 352.4% to $5.34 as the company reported pricing of $8.19 million
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Dear SmartRent Board of Directors,Land & Buildings has owned SmartRent (NYSE:SMRT) shares for two years and holds over 3% of the outstanding shares. During this time, we have been patient, passive investors. Yet, SMRT shares are down over 80% from their 2021 highs, and nearly plumbing new all-time lows, as the Company has consistently failed to execute on its growth strategy, regularly missing one guidance metric after another – while overpromising and underdelivering (see charts below).We have not only been patient and understanding but have tried to constructively work with CEO Lucas Haldeman and the management team as they have navigated what seems like a continuous stream of disappointme
Accordingly, guidance for Q2 and full-year 2024 are as follows: Second Quarter 2024 Guidance Total Revenue in the range of $49 to $55 million. Adjusted EBITDA in the range of $(0.5) million to $0.5 million. Unchanged - Full-Year 2024 Guidance Total Revenue in the range of $260 million to $290 million. Adjusted EBITDA in the range of $5 million to $8 million.
Accordingly, guidance for Q2 and full-year 2024 are as follows: Second Quarter 2024 Guidance Total Revenue in the range of $49 to $55 million. Adjusted EBITDA in the range of $(0.5) million to $0.5 million. Unchanged - Full-Year 2024 Guidance Total Revenue in the range of $260 million to $290 million. Adjusted EBITDA in the range of $5 million to $8 million.