Smartsheet (NYSE:SMAR) Releases Q3 Earnings Guidance

Smartsheet (NYSE:SMARGet Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.29-0.31 for the period, compared to the consensus earnings per share estimate of $0.29. The company issued revenue guidance of $282-285 million, compared to the consensus revenue estimate of $285.26 million. Smartsheet also updated its FY 2025 guidance to 1.360-1.390 EPS.

Analyst Ratings Changes

A number of research firms have recently weighed in on SMAR. UBS Group raised their price target on Smartsheet from $56.00 to $61.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their price objective on shares of Smartsheet from $47.00 to $50.00 and gave the company an overweight rating in a research report on Thursday, June 6th. Needham & Company LLC reiterated a buy rating and issued a $57.00 target price on shares of Smartsheet in a research note on Friday. Guggenheim restated a buy rating and set a $56.00 price target on shares of Smartsheet in a research note on Tuesday, June 25th. Finally, Morgan Stanley raised their price target on shares of Smartsheet from $55.00 to $57.00 and gave the company an overweight rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $53.94.

View Our Latest Stock Analysis on Smartsheet

Smartsheet Stock Up 8.1 %

SMAR stock traded up $3.98 during mid-day trading on Friday, reaching $53.33. 214,125 shares of the stock traded hands, compared to its average volume of 1,462,485. The firm has a market capitalization of $7.38 billion, a PE ratio of -85.37 and a beta of 0.74. The business has a 50-day moving average of $46.84 and a two-hundred day moving average of $42.46. Smartsheet has a 52 week low of $35.52 and a 52 week high of $53.78.

Smartsheet (NYSE:SMARGet Free Report) last released its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.15. The firm had revenue of $276.41 million for the quarter, compared to analyst estimates of $274.23 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) EPS. On average, equities research analysts anticipate that Smartsheet will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Smartsheet news, CFO Pete Godbole sold 7,244 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $41.22, for a total value of $298,597.68. Following the completion of the sale, the chief financial officer now directly owns 30,786 shares of the company’s stock, valued at approximately $1,268,998.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jolene Lau Marshall sold 3,741 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the transaction, the insider now directly owns 17,100 shares in the company, valued at $823,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Pete Godbole sold 7,244 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $41.22, for a total transaction of $298,597.68. Following the completion of the sale, the chief financial officer now directly owns 30,786 shares in the company, valued at approximately $1,268,998.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,929 shares of company stock valued at $1,446,805. 4.52% of the stock is owned by company insiders.

About Smartsheet

(Get Free Report)

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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