Analysts Anticipate Smartsheet Inc (NYSE:SMAR) to Announce -$0.18 EPS

Wall Street analysts expect Smartsheet Inc (NYSE:SMAR) to report earnings of ($0.18) per share for the current quarter, Zacks reports. Six analysts have issued estimates for Smartsheet’s earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.20). Smartsheet posted earnings of ($0.09) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 100%. The firm is scheduled to report its next quarterly earnings report on Monday, December 2nd.

According to Zacks, analysts expect that Smartsheet will report full-year earnings of ($0.55) per share for the current fiscal year, with EPS estimates ranging from ($0.58) to ($0.50). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.54) per share, with EPS estimates ranging from ($0.66) to ($0.42). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Smartsheet.

Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.09. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The company had revenue of $64.64 million during the quarter, compared to the consensus estimate of $63.55 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 52.5% compared to the same quarter last year.

Several research analysts have recently issued reports on SMAR shares. Zacks Investment Research raised shares of Smartsheet from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Smartsheet from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Stephens reissued a “buy” rating and set a $55.00 target price on shares of Smartsheet in a research report on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price (up previously from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Finally, Wedbush reissued an “outperform” rating and set a $62.00 target price on shares of Smartsheet in a research report on Friday, August 30th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Smartsheet has a consensus rating of “Buy” and an average price target of $53.00.

In other Smartsheet news, insider Kara Hamilton sold 7,500 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $47.65, for a total transaction of $357,375.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Michael Arntz sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $41.59, for a total value of $623,850.00. Insiders have sold a total of 671,516 shares of company stock valued at $31,268,810 in the last three months. Insiders own 24.73% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Smartsheet by 220.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,756,252 shares of the company’s stock worth $327,002,000 after purchasing an additional 4,644,716 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Smartsheet by 285.3% in the 2nd quarter. BlackRock Inc. now owns 4,536,828 shares of the company’s stock worth $219,582,000 after purchasing an additional 3,359,344 shares in the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Smartsheet by 87.3% in the 2nd quarter. Whale Rock Capital Management LLC now owns 5,030,271 shares of the company’s stock worth $243,465,000 after purchasing an additional 2,344,769 shares in the last quarter. Abdiel Capital Advisors LP bought a new position in shares of Smartsheet in the 2nd quarter worth $108,740,000. Finally, Coatue Management LLC bought a new position in shares of Smartsheet in the 2nd quarter worth $99,384,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

Shares of Smartsheet stock traded down $1.00 on Tuesday, hitting $39.97. The stock had a trading volume of 3,209,467 shares, compared to its average volume of 2,616,299. The stock has a 50 day moving average of $46.48 and a 200 day moving average of $44.98. Smartsheet has a twelve month low of $20.34 and a twelve month high of $55.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.50 and a current ratio of 3.50. The firm has a market capitalization of $4.37 billion, a P/E ratio of -64.47 and a beta of 2.04.

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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