Smartsheet Inc (NYSE:SMAR) Expected to Post Earnings of -$0.16 Per Share

Wall Street analysts expect that Smartsheet Inc (NYSE:SMAR) will post earnings of ($0.16) per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Smartsheet’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.14). Smartsheet reported earnings per share of ($0.08) during the same quarter last year, which would indicate a negative year-over-year growth rate of 100%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, September 4th.

According to Zacks, analysts expect that Smartsheet will report full year earnings of ($0.55) per share for the current fiscal year, with EPS estimates ranging from ($0.57) to ($0.51). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.62) to ($0.43). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Smartsheet.

Smartsheet (NYSE:SMAR) last issued its earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.15. The business had revenue of $56.19 million for the quarter, compared to analysts’ expectations of $54.65 million. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The business’s revenue for the quarter was up 54.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS.

Several research analysts recently issued reports on the stock. Wedbush assumed coverage on shares of Smartsheet in a research report on Thursday, August 1st. They issued an “outperform” rating and a $62.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Finally, Zacks Investment Research lowered shares of Smartsheet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.17.

In other Smartsheet news, major shareholder Venture Fund L. P. Madrona III sold 5,175,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $43.50, for a total transaction of $225,112,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew S. Mcilwain sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $44.01, for a total transaction of $4,401,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,825,089 shares of company stock valued at $472,738,900. Company insiders own 24.73% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Smartsheet by 240.2% during the first quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock worth $27,000 after purchasing an additional 466 shares during the period. Optimum Investment Advisors purchased a new stake in shares of Smartsheet during the first quarter worth about $41,000. Meadow Creek Investment Management LLC boosted its holdings in shares of Smartsheet by 76.9% during the second quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock worth $89,000 after purchasing an additional 800 shares during the period. Evolution Wealth Advisors LLC bought a new position in Smartsheet in the second quarter worth about $93,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Smartsheet in the second quarter worth about $111,000. Institutional investors and hedge funds own 55.10% of the company’s stock.

NYSE:SMAR traded down $1.44 during midday trading on Friday, hitting $50.32. The company had a trading volume of 800,105 shares, compared to its average volume of 1,229,743. Smartsheet has a 52-week low of $20.34 and a 52-week high of $55.79. The stock’s fifty day moving average price is $51.29 and its 200-day moving average price is $43.91. The company has a market capitalization of $5.52 billion, a PE ratio of -81.16 and a beta of 2.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.29.

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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