Smartsheet (SMAR) Set to Announce Earnings on Wednesday (2024)

Posted by MarketBeat News on Jun 3rd, 2024

Smartsheet (NYSE:SMAR – Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, June 5th. Analysts expect Smartsheet to post earnings of $0.27 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Smartsheet (NYSE:SMAR – Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.17. The firm had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. On average, analysts expect Smartsheet to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Smartsheet Stock Down 0.2 %

Shares of Smartsheet stock opened at $37.00 on Monday. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -46.83 and a beta of 0.73. Smartsheet has a twelve month low of $35.52 and a twelve month high of $52.81. The company’s fifty day moving average is $38.92 and its 200 day moving average is $42.40.

Analyst Upgrades and Downgrades

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A number of equities research analysts have commented on the company. UBS Group reduced their price target on Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Royal Bank of Canada reduced their target price on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating on the stock in a report on Friday, March 15th. KeyCorp assumed coverage on shares of Smartsheet in a report on Thursday, March 21st. They set a “sector weight” rating for the company. Canaccord Genuity Group reduced their price objective on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

View Our Latest Research Report on SMAR

Insider Activity

In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the transaction, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael Arntz sold 7,702 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the sale, the executive now directly owns 12,718 shares of the company’s stock, valued at $501,597.92. The disclosure for this sale can be found here. Insiders sold a total of 28,770 shares of company stock worth $1,132,791 over the last quarter. 4.52% of the stock is currently owned by corporate insiders.

Smartsheet Company Profile

(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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