-$0.18 EPS Expected for Smartsheet Inc (NYSE:SMAR) This Quarter

Equities analysts forecast that Smartsheet Inc (NYSE:SMAR) will announce earnings per share (EPS) of ($0.18) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Smartsheet’s earnings, with estimates ranging from ($0.20) to ($0.16). Smartsheet reported earnings of ($0.09) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 100%. The firm is scheduled to announce its next 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 year, with EPS estimates ranging from ($0.58) to ($0.50). For the next year, analysts forecast that the firm will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.66) to ($0.42). Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Smartsheet.

Smartsheet (NYSE:SMAR) last released its earnings results on Wednesday, September 4th. The company reported ($0.16) earnings per share for the quarter, topping the 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 firm had revenue of $64.64 million during the quarter, compared to analysts’ expectations of $63.55 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 52.5% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Smartsheet from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine cut Smartsheet from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Royal Bank of Canada dropped their price target on Smartsheet from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. DA Davidson dropped their price target on Smartsheet to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $52.00 price target on shares of Smartsheet in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Smartsheet currently has an average rating of “Buy” and a consensus target price of $51.62.

NYSE SMAR traded up $0.29 on Thursday, hitting $41.02. 2,069,740 shares of the company’s stock were exchanged, compared to its average volume of 3,322,955. The stock has a 50-day moving average of $42.04 and a 200-day moving average of $44.67. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. Smartsheet has a 52 week low of $20.34 and a 52 week high of $55.79. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of -66.16 and a beta of 1.94.

In related news, CRO Michael Arntz sold 14,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $54.14, for a total value of $757,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Porrini sold 20,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.90, for a total value of $818,000.00. Insiders sold a total of 867,172 shares of company stock valued at $37,345,227 over the last quarter. 24.73% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Park West Asset Management LLC acquired a new stake in Smartsheet in the second quarter valued at $16,972,000. Atria Investments LLC acquired a new stake in Smartsheet in the second quarter valued at $1,191,000. Treasurer of the State of North Carolina acquired a new stake in Smartsheet in the second quarter valued at $1,655,000. BlackRock Inc. increased its holdings in Smartsheet by 285.3% in the second 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 period. Finally, KCL Capital L.P. acquired a new stake in Smartsheet in the second quarter valued at $271,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Smartsheet

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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