Smartsheet (NYSE:SMAR) Posts Earnings Results, Beats Expectations By $0.13 EPS

Smartsheet (NYSE:SMAR) issued its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.13, reports. The company had revenue of $71.50 million for the quarter, compared to the consensus estimate of $69.83 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS.

NYSE SMAR opened at $43.76 on Thursday. The firm has a market cap of $5.53 billion, a P/E ratio of -70.58 and a beta of 2.02. 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 company’s 50 day moving average is $41.25 and its 200-day moving average is $44.84. Smartsheet has a 12-month low of $22.01 and a 12-month high of $55.79.

In related news, CEO Mark Patrick Mader sold 30,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $37.87, for a total transaction of $1,136,100.00. Following the sale, the chief executive officer now directly owns 941,636 shares in the company, valued at approximately $35,659,755.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eugene Farrell sold 10,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.28, for a total value of $402,800.00. Insiders have sold a total of 684,800 shares of company stock worth $26,803,427 over the last 90 days. 24.73% of the stock is currently owned by corporate insiders.

SMAR has been the topic of several research reports. Canaccord Genuity lowered their price objective on shares of Smartsheet from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Stephens reissued a “buy” rating and set a $55.00 target price on shares of Smartsheet in a research report on Tuesday, September 10th. Jefferies Financial Group restated a “buy” rating and set a $52.00 price target on shares of Smartsheet in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Smartsheet from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, ValuEngine lowered Smartsheet from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Smartsheet currently has a consensus rating of “Buy” and a consensus price target of $50.07.

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 for Smartsheet (NYSE:SMAR)

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