Analysts forecast that Smartsheet Inc (NYSE:SMAR) will post $44.08 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Smartsheet’s earnings. The lowest sales estimate is $43.91 million and the highest is $44.30 million. The firm is scheduled to announce its next quarterly earnings results on Tuesday, December 4th.
On average, analysts expect that Smartsheet will report full year sales of $168.27 million for the current financial year, with estimates ranging from $167.90 million to $168.60 million. For the next fiscal year, analysts forecast that the company will post sales of $234.76 million, with estimates ranging from $231.80 million to $237.21 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Smartsheet.
Smartsheet (NYSE:SMAR) last posted its earnings results on Tuesday, September 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. The business had revenue of $42.38 million during the quarter, compared to the consensus estimate of $39.21 million. Smartsheet’s revenue was up 58.9% compared to the same quarter last year.
Several analysts recently issued reports on SMAR shares. JPMorgan Chase & Co. raised their target price on Smartsheet to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Morgan Stanley cut their target price on Smartsheet from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Zacks Investment Research cut Smartsheet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Canaccord Genuity raised their target price on Smartsheet from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Finally, Jefferies Financial Group raised their target price on Smartsheet to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Eight equities research analysts have rated the stock with a buy rating, Smartsheet has an average rating of “Buy” and an average target price of $34.86.
In other Smartsheet news, VP Kara Hamilton sold 30,000 shares of Smartsheet stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $23.10, for a total transaction of $693,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of institutional investors have recently bought and sold shares of the business. Insight Holdings Group LLC purchased a new position in shares of Smartsheet during the second quarter valued at approximately $746,144,000. Summit Partners L P purchased a new position in shares of Smartsheet during the second quarter valued at approximately $62,552,000. BlackRock Inc. purchased a new position in shares of Smartsheet during the second quarter valued at approximately $17,635,000. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Smartsheet during the second quarter valued at approximately $13,242,000. Finally, Federated Investors Inc. PA purchased a new position in shares of Smartsheet during the second quarter valued at approximately $11,687,000. 41.63% of the stock is currently owned by institutional investors and hedge funds.
NYSE SMAR opened at $24.82 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.02. Smartsheet has a 1 year low of $18.06 and a 1 year high of $33.98.
Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.
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