Zacks: Analysts Expect Smartsheet Inc (NYSE:SMAR) Will Post Earnings of -$0.19 Per Share

Wall Street brokerages predict that Smartsheet Inc (NYSE:SMARGet Rating) will post earnings of ($0.19) per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Smartsheet’s earnings, with estimates ranging from ($0.19) to ($0.18). Smartsheet reported earnings of ($0.09) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 111.1%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Smartsheet will report full year earnings of ($0.66) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.65). For the next fiscal year, analysts expect that the firm will post earnings of ($0.40) per share, with EPS estimates ranging from ($0.52) to ($0.27). Zacks’ EPS averages are a mean average based on a survey of research firms that cover Smartsheet.

Smartsheet (NYSE:SMARGet Rating) last posted its earnings results on Tuesday, March 15th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.03. The company had revenue of $157.39 million for the quarter, compared to analyst estimates of $151.60 million. Smartsheet had a negative return on equity of 29.45% and a negative net margin of 31.06%. Smartsheet’s revenue was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share.

Several research firms recently weighed in on SMAR. Oppenheimer reduced their target price on Smartsheet from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 16th. Royal Bank of Canada cut their price objective on Smartsheet from $63.00 to $40.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 16th. Morgan Stanley cut their price objective on Smartsheet from $105.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. KeyCorp cut their price objective on Smartsheet from $100.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, March 16th. Finally, Citigroup cut their price objective on Smartsheet from $60.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, March 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $65.67.

NYSE SMAR traded up $0.15 during trading hours on Thursday, hitting $37.17. 15,802 shares of the company’s stock were exchanged, compared to its average volume of 1,628,142. The business’s 50 day moving average is $50.46 and its 200-day moving average is $60.33. Smartsheet has a 12-month low of $36.57 and a 12-month high of $85.65. The firm has a market capitalization of $4.78 billion, a P/E ratio of -27.51 and a beta of 1.57.

In other news, Director Geoffrey T. Barker sold 2,250 shares of the company’s stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $60.66, for a total value of $136,485.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Andrew Lee Bennett sold 1,717 shares of the company’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $62.33, for a total value of $107,020.61. The disclosure for this sale can be found here. In the last three months, insiders sold 27,670 shares of company stock worth $1,544,581. Company insiders own 4.58% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. raised its position in shares of Smartsheet by 27.0% during the first quarter. Eagle Asset Management Inc. now owns 482,026 shares of the company’s stock worth $26,405,000 after purchasing an additional 102,554 shares during the period. PNC Financial Services Group Inc. raised its position in Smartsheet by 8.1% during the first quarter. PNC Financial Services Group Inc. now owns 10,683 shares of the company’s stock valued at $585,000 after buying an additional 803 shares during the period. Citigroup Inc. raised its position in Smartsheet by 7.0% during the first quarter. Citigroup Inc. now owns 25,608 shares of the company’s stock valued at $1,403,000 after buying an additional 1,677 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Smartsheet by 33.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,628 shares of the company’s stock valued at $7,320,000 after buying an additional 33,420 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new position in Smartsheet during the first quarter valued at $2,013,000. 88.88% of the stock is currently owned by institutional investors.

About Smartsheet (Get Rating)

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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