Smartsheet Inc (SMAR) Expected to Announce Earnings of -$0.18 Per Share

Equities research analysts expect Smartsheet Inc (NYSE:SMAR) to announce earnings per share of ($0.18) for the current quarter, Zacks reports. Six analysts have made estimates for Smartsheet’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.19). Smartsheet reported earnings per share of ($0.12) in the same quarter last year, which would indicate a negative year-over-year growth rate of 50%. The business is expected to announce its next earnings results on Monday, June 3rd.

On average, analysts expect that Smartsheet will report full year earnings of ($0.57) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.55). For the next financial year, analysts forecast that the business will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.64) to ($0.44). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Smartsheet.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.12. Smartsheet had a negative return on equity of 49.01% and a negative net margin of 30.32%. The firm had revenue of $52.20 million during the quarter, compared to analyst estimates of $49.72 million. The business’s quarterly revenue was up 58.2% on a year-over-year basis.

Several brokerages recently weighed in on SMAR. Needham & Company LLC began coverage on Smartsheet in a research note on Thursday, April 11th. They issued a “buy” rating and a $45.00 price target for the company. Oppenheimer began coverage on Smartsheet in a research note on Thursday, April 4th. They issued an “outperform” rating and a $50.00 price target for the company. Zacks Investment Research lowered Smartsheet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. DA Davidson began coverage on Smartsheet in a research note on Thursday, March 21st. They issued a “neutral” rating and a $45.00 price target for the company. Finally, SunTrust Banks lifted their price target on Smartsheet to $56.00 and gave the company a “positive” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.09.

Shares of Smartsheet stock traded down $0.57 on Wednesday, hitting $39.74. The company’s stock had a trading volume of 21,862 shares, compared to its average volume of 2,133,974. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.01. Smartsheet has a 1 year low of $18.06 and a 1 year high of $49.04. The firm has a market cap of $4.25 billion and a PE ratio of -63.95.

In related news, major shareholder Insight Holdings Group, Llc sold 371,513 shares of Smartsheet stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $40.31, for a total value of $14,975,689.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brent Frei sold 50,000 shares of Smartsheet stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $27.03, for a total value of $1,351,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,401,309 shares of company stock worth $51,684,354.

Hedge funds have recently bought and sold shares of the stock. Caz Investments LP boosted its holdings in shares of Smartsheet by 100.0% during the 4th quarter. Caz Investments LP now owns 1,200 shares of the company’s stock worth $30,000 after purchasing an additional 600 shares during the last quarter. Neuburgh Advisers LLC boosted its holdings in shares of Smartsheet by 90.9% during the 4th quarter. Neuburgh Advisers LLC now owns 1,386 shares of the company’s stock worth $34,000 after purchasing an additional 660 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Smartsheet during the 4th quarter worth approximately $36,000. Intellectus Partners LLC acquired a new position in shares of Smartsheet during the 4th quarter worth approximately $37,000. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Smartsheet during the 3rd quarter worth approximately $57,000. Institutional investors own 49.81% of the company’s stock.

About Smartsheet

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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