Smartsheet (NYSE:SMAR) Releases Q3 Earnings Guidance

Smartsheet (NYSE:SMAR) 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.

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:SMAR) 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

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.