Smartsheet (NYSE:SMAR) Releases Q4 2020 After-Hours Earnings Guidance

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Smartsheet (NYSE:SMAR) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.17–0.16 for the period, compared to the Thomson Reuters consensus estimate of $-0.16. The company issued revenue guidance of $77-78 million, compared to the consensus revenue estimate of $76.34 million.Smartsheet also updated its FY 2020
After-Hours guidance to -0.53–0.52 EPS.

NYSE:SMAR traded down $1.02 during mid-day trading on Wednesday, hitting $43.76. 1,787,500 shares of the company’s stock were exchanged, compared to its average volume of 1,785,877. The company has a 50 day simple moving average of $41.20 and a 200-day simple moving average of $44.83. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. Smartsheet has a fifty-two week low of $22.01 and a fifty-two week high of $55.79. The firm has a market capitalization of $5.53 billion, a P/E ratio of -70.58 and a beta of 2.02.

Smartsheet (NYSE:SMAR) last posted its earnings results on Wednesday, September 4th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.09. Smartsheet had a negative net margin of 30.10% and a negative return on equity of 24.74%. The business had revenue of $64.64 million for the quarter, compared to the consensus estimate of $63.55 million. During the same period last year, the company earned ($0.08) EPS. The firm’s revenue was up 52.5% compared to the same quarter last year. As a group, analysts expect that Smartsheet will post -0.92 earnings per share for the current year.

SMAR has been the topic of several recent research reports. First Analysis initiated coverage on shares of Smartsheet in a research report on Tuesday, November 12th. They set an outperform rating and a $50.00 target price on the stock. Oppenheimer reduced their target price on shares of Smartsheet from $58.00 to $53.00 and set an outperform rating for the company in a research note on Wednesday, October 2nd. DA Davidson reduced their target price on shares of Smartsheet to $38.00 and set a neutral rating for the company in a research note on Wednesday, October 2nd. Wedbush lowered shares of Smartsheet from an outperform rating to a neutral rating and reduced their target price for the stock from $62.00 to $42.00 in a research note on Monday, November 11th. Finally, Stephens reiterated a buy rating and issued a $55.00 target price on shares of Smartsheet in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $50.07.

In related news, Director Geoffrey T. Barker sold 200,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $38.34, for a total value of $7,668,000.00. Also, Director Geoffrey T. Barker sold 16,700 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $45.36, for a total transaction of $757,512.00. Insiders sold a total of 701,500 shares of company stock worth $27,560,939 over the last three months. 24.73% of the stock is owned by insiders.

Smartsheet Company Profile

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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