Smartsheet (NYSE:SMAR) Releases FY 2020 After-Hours Earnings Guidance

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Smartsheet (NYSE:SMAR) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.53–0.52 for the period, compared to the Thomson Reuters consensus estimate of $-0.55. The company issued revenue guidance of $269.4-270.4 million, compared to the consensus revenue estimate of $267.09 million.Smartsheet also updated its Q4 2020
After-Hours guidance to -0.17–0.16 EPS.

Smartsheet stock traded down $1.02 during mid-day trading on Wednesday, hitting $43.76. The company’s stock had a trading volume of 1,787,500 shares, compared to its average volume of 1,785,877. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $5.53 billion, a P/E ratio of -70.58 and a beta of 2.02. Smartsheet has a twelve month low of $22.01 and a twelve month high of $55.79. The stock’s fifty day moving average price is $41.20 and its two-hundred day moving average price is $44.83.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.09. The firm had revenue of $64.64 million for 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 firm’s quarterly revenue was up 52.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities analysts expect that Smartsheet will post -0.92 earnings per share for the current year.

SMAR has been the topic of several recent research reports. Zacks Investment Research lowered shares of Smartsheet from a buy rating to a hold rating in a research report on Thursday, October 10th. ValuEngine lowered shares of Smartsheet from a buy rating to a hold rating in a research report on Tuesday, September 24th. Wedbush lowered shares of Smartsheet from an outperform rating to a neutral rating and decreased their price target for the stock from $62.00 to $42.00 in a research report on Monday, November 11th. Berenberg Bank initiated coverage on shares of Smartsheet in a research report on Thursday, October 10th. They issued a buy rating and a $48.00 price target on the stock. Finally, Royal Bank of Canada decreased their price target on shares of Smartsheet from $60.00 to $53.00 and set an outperform rating on the stock in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $50.07.

In other Smartsheet news, CEO Mark Patrick Mader sold 40,000 shares of Smartsheet stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $38.44, for a total transaction of $1,537,600.00. Also, insider Eugene Farrell sold 10,000 shares of Smartsheet stock in a transaction on 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 quarter, insiders have sold 701,500 shares of company stock worth $27,560,939. Corporate insiders own 24.73% of the company’s stock.

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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Earnings History and Estimates for Smartsheet (NYSE:SMAR)

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