Smartsheet (SMAR) Scheduled to Post Quarterly Earnings on Wednesday

Smartsheet (NYSE:SMARGet Free Report) will be announcing its earnings results after the market closes on Wednesday, June 5th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Smartsheet (NYSE:SMARGet Free Report) last posted 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 for the quarter, compared to analysts’ expectations 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 Price Performance

SMAR opened at $39.29 on Wednesday. The stock has a market capitalization of $5.40 billion, a PE ratio of -49.73 and a beta of 0.73. The firm’s fifty day moving average price is $39.01 and its 200 day moving average price is $42.49. Smartsheet has a 12-month low of $35.52 and a 12-month high of $52.81.

Insider Transactions at Smartsheet

In related news, CFO Pete Godbole sold 5,202 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $41.92, for a total value of $218,067.84. Following the completion of the sale, the chief financial officer now owns 44,346 shares of the company’s stock, valued at $1,858,984.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the sale, the executive now directly owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Pete Godbole sold 5,202 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $41.92, for a total transaction of $218,067.84. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at $1,858,984.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,770 shares of company stock worth $1,132,791. Insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on SMAR shares. Wells Fargo & Company cut their price target on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and set a $57.00 target price on shares of Smartsheet in a research note on Friday, March 15th. Jefferies Financial Group lowered their target price on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Morgan Stanley lowered their target price on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, Oppenheimer lowered their target price on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Check Out Our Latest Stock Report on SMAR

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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Earnings History for Smartsheet (NYSE:SMAR)

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