Smartsheet (NYSE:SMAR) Releases Q2 Earnings Guidance

Smartsheet (NYSE:SMARGet Free Report) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.28-$0.29 for the period, compared to the consensus EPS estimate of $0.25. The company issued revenue guidance of $273-$275 million, compared to the consensus revenue estimate of $273.77 million. Smartsheet also updated its FY25 guidance to $1.22-$1.29 EPS.

Smartsheet Stock Up 0.5 %

Shares of Smartsheet stock traded up $0.17 on Wednesday, hitting $37.78. 2,143,845 shares of the company’s stock traded hands, compared to its average volume of 1,496,806. The stock has a market cap of $5.19 billion, a P/E ratio of -47.58 and a beta of 0.74. The firm’s 50-day moving average is $38.88 and its 200 day moving average is $42.35. Smartsheet has a 52-week low of $35.52 and a 52-week high of $52.81.

Smartsheet (NYSE:SMARGet Free Report) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.17. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. The firm had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Equities research analysts forecast that Smartsheet will post -0.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group reduced their price objective on shares of Smartsheet from $60.00 to $54.00 and set a buy rating for the company in a research note on Friday, March 15th. Jefferies Financial Group decreased their price objective on shares of Smartsheet from $57.00 to $50.00 and set a buy rating for the company in a research note on Friday, March 15th. Needham & Company LLC reissued a buy rating and set a $57.00 target price on shares of Smartsheet in a research note on Friday, March 15th. Canaccord Genuity Group reduced their target price on Smartsheet from $55.00 to $45.00 and set a buy rating for the company in a report on Monday, March 18th. Finally, Barclays dropped their target price on Smartsheet from $50.00 to $40.00 and set an equal weight rating on the stock in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Smartsheet currently has a consensus rating of Moderate Buy and an average price target of $49.75.

View Our Latest Research Report on Smartsheet

Insider Buying and Selling at Smartsheet

In related news, COO Stephen Robert Branstetter sold 5,737 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total transaction of $219,268.14. Following the transaction, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at approximately $2,591,354.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO Stephen Robert Branstetter sold 5,737 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the completion of the sale, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at $2,591,354.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Pete Godbole sold 10,129 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,770 shares of company stock valued at $1,132,791. Corporate insiders own 4.52% of the company’s stock.

About Smartsheet

(Get Free Report)

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.

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Earnings History and Estimates for Smartsheet (NYSE:SMAR)

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