Wall Street brokerages expect that Smartsheet Inc (NYSE:SMAR) will announce earnings of ($0.18) per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Smartsheet’s earnings. The highest EPS estimate is ($0.16) and the lowest is ($0.20). Smartsheet posted earnings of ($0.09) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 100%. The business is expected to announce its next earnings report after the market closes on Wednesday, December 4th.
On average, analysts expect that Smartsheet will report full year earnings of ($0.55) per share for the current financial year, with EPS estimates ranging from ($0.58) to ($0.50). For the next year, analysts forecast that the business will report earnings of ($0.52) per share, with EPS estimates ranging from ($0.66) to ($0.41). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Smartsheet.
Smartsheet (NYSE:SMAR) last announced its earnings results on Wednesday, September 4th. The company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.09. The firm had revenue of $64.64 million during the quarter, compared to analyst estimates of $63.55 million. Smartsheet had a negative net margin of 30.10% and a negative return on equity of 24.74%. The company’s revenue for the quarter was up 52.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS.
SMAR has been the subject of a number of recent research reports. Canaccord Genuity reduced their price objective on shares of Smartsheet from $53.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Wedbush downgraded shares of Smartsheet from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $42.00 in a research note on Monday, November 11th. First Analysis initiated coverage on shares of Smartsheet in a research note on Tuesday, November 12th. They set an “outperform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, DA Davidson reduced their price objective on shares of Smartsheet to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $50.07.
In related news, CEO Mark Patrick Mader sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $37.87, for a total value of $1,136,100.00. Following the completion of the sale, the chief executive officer now directly owns 941,636 shares in the company, valued at approximately $35,659,755.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eugene Farrell sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $40.28, for a total transaction of $402,800.00. Over the last 90 days, insiders have sold 701,500 shares of company stock valued at $27,560,939. Company insiders own 24.73% of the company’s stock.
A number of large investors have recently modified their holdings of SMAR. Vanguard Group Inc. lifted its stake in Smartsheet by 220.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,756,252 shares of the company’s stock valued at $327,002,000 after purchasing an additional 4,644,716 shares during the last quarter. BlackRock Inc. lifted its stake in Smartsheet by 285.3% in the 2nd quarter. BlackRock Inc. now owns 4,536,828 shares of the company’s stock valued at $219,582,000 after purchasing an additional 3,359,344 shares during the last quarter. First Trust Advisors LP lifted its stake in Smartsheet by 624.5% in the 3rd quarter. First Trust Advisors LP now owns 3,747,273 shares of the company’s stock valued at $135,014,000 after purchasing an additional 3,230,070 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Smartsheet by 87.3% in the 2nd quarter. Whale Rock Capital Management LLC now owns 5,030,271 shares of the company’s stock valued at $243,465,000 after purchasing an additional 2,344,769 shares during the last quarter. Finally, Abdiel Capital Advisors LP acquired a new stake in Smartsheet in the 2nd quarter valued at about $108,740,000. Institutional investors and hedge funds own 73.39% of the company’s stock.
NYSE SMAR traded down $3.14 on Monday, reaching $44.29. The company had a trading volume of 2,241,900 shares, compared to its average volume of 1,788,783. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of -71.44 and a beta of 2.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.50 and a current ratio of 3.50. Smartsheet has a 1-year low of $22.01 and a 1-year high of $55.79. The company’s fifty day moving average is $41.13 and its 200-day moving average is $44.82.
Smartsheet Company Profile
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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