Smartsheet (NYSE:SMAR) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided EPS guidance of $-0.58–0.54 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.54. The company issued revenue guidance of $265-268 million, compared to the consensus revenue estimate of $264.29 million.Smartsheet also updated its Q3 2020 guidance to $-0.19–0.18 EPS.
Smartsheet stock traded up $0.86 during mid-day trading on Wednesday, reaching $47.91. The company had a trading volume of 2,807,326 shares, compared to its average volume of 1,517,923. Smartsheet has a fifty-two week low of $20.34 and a fifty-two week high of $55.79. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. The company has a market cap of $5.18 billion, a P/E ratio of -77.27 and a beta of 2.04. The business has a fifty day simple moving average of $50.36 and a 200 day simple moving average of $44.76.
Smartsheet (NYSE:SMAR) last issued its earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.15. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The firm had revenue of $56.19 million for the quarter, compared to analyst estimates of $54.65 million. During the same quarter last year, the business posted ($0.12) earnings per share. The company’s quarterly revenue was up 54.7% on a year-over-year basis. Research analysts forecast that Smartsheet will post -0.94 EPS for the current year.
A number of analysts have weighed in on SMAR shares. Needham & Company LLC restated a buy rating and issued a $60.00 target price (up previously from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Zacks Investment Research lowered shares of Smartsheet from a buy rating to a hold rating in a report on Wednesday, August 7th. Finally, Wedbush reiterated an outperform rating and set a $62.00 price target on shares of Smartsheet in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $53.17.
In other news, insider Mark Patrick Mader sold 30,000 shares of Smartsheet stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Michael Arntz sold 93,172 shares of Smartsheet stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.04, for a total transaction of $4,662,326.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,855,761 shares of company stock worth $475,050,155. 24.73% of the stock is owned by company insiders.
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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