Zacks: Analysts Expect Smartsheet Inc (SMAR) Will Post Quarterly Sales of $49.60 Million

Brokerages expect Smartsheet Inc (NYSE:SMAR) to report $49.60 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Smartsheet’s earnings. The lowest sales estimate is $49.50 million and the highest is $49.70 million. The business is expected to announce its next earnings report on Monday, March 4th.

On average, analysts expect that Smartsheet will report full year sales of $175.20 million for the current fiscal year, with estimates ranging from $175.08 million to $175.41 million. For the next year, analysts expect that the firm will report sales of $243.21 million, with estimates ranging from $237.17 million to $249.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Smartsheet.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Monday, December 3rd. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.11. Smartsheet had a negative return on equity of 111.93% and a negative net margin of 32.12%. The company had revenue of $46.90 million during the quarter, compared to analyst estimates of $44.12 million. The company’s quarterly revenue was up 59.5% on a year-over-year basis.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Smartsheet from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley boosted their target price on Smartsheet from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, December 4th. Royal Bank of Canada dropped their target price on Smartsheet from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 30th. Finally, Stephens assumed coverage on Smartsheet in a research report on Thursday, January 3rd. They set an “overweight” rating and a $32.00 target price for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $34.00.

Shares of NYSE:SMAR traded up $0.75 during trading hours on Friday, hitting $33.82. 29,636 shares of the company’s stock traded hands, compared to its average volume of 738,013. Smartsheet has a 1 year low of $18.06 and a 1 year high of $33.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09.

In other news, Director Brent Frei sold 22,186 shares of Smartsheet stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $26.26, for a total transaction of $582,604.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kara Hamilton sold 5,000 shares of Smartsheet stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $22.58, for a total transaction of $112,900.00. The disclosure for this sale can be found here. Insiders have sold 631,719 shares of company stock valued at $18,358,008 in the last 90 days.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Smartsheet in the second quarter worth approximately $17,635,000. Hodges Capital Management Inc. bought a new position in Smartsheet in the third quarter worth approximately $4,946,000. Bank of New York Mellon Corp bought a new position in Smartsheet in the second quarter worth approximately $230,000. Hsbc Holdings PLC bought a new position in Smartsheet in the third quarter worth approximately $1,563,000. Finally, Hillman Co. bought a new position in Smartsheet in the fourth quarter worth approximately $160,000. 42.08% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Company Profile

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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Earnings History and Estimates for Smartsheet (NYSE:SMAR)

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