Smartsheet (NYSE:SMAR) Releases Q3 2020 Earnings Guidance

Smartsheet (NYSE:SMAR) issued an update on its third quarter 2020 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $-0.19–0.18 for the period, compared to the Thomson Reuters consensus estimate of $-0.14. The company issued revenue guidance of $69-70 million, compared to the consensus revenue estimate of $68.92 million.Smartsheet also updated its FY 2020 guidance to $-0.58–0.54 EPS.

NYSE SMAR traded down $1.70 on Friday, reaching $41.96. The stock had a trading volume of 536,409 shares, compared to its average volume of 1,203,532. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 1.63. Smartsheet has a 12-month low of $20.34 and a 12-month high of $55.79. The business’s 50-day moving average price is $50.13 and its 200 day moving average price is $44.79. The stock has a market cap of $5.11 billion, a P/E ratio of -67.67 and a beta of 2.04.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.09. Smartsheet had a negative return on equity of 38.43% and a negative net margin of 30.10%. The company had revenue of $64.64 million during the quarter, compared to analysts’ expectations of $63.55 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 52.5% on a year-over-year basis. On average, sell-side analysts predict that Smartsheet will post -0.94 earnings per share for the current year.

A number of equities research analysts have weighed in on SMAR shares. Needham & Company LLC reiterated a buy rating and issued a $60.00 price objective (up previously from $45.00) on shares of Smartsheet in a research note on Thursday, July 11th. Wedbush restated an outperform rating and set a $62.00 price target on shares of Smartsheet in a research note on Friday, August 30th. Zacks Investment Research cut Smartsheet from a buy rating to a hold rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on Smartsheet from $47.00 to $48.00 and gave the stock an overweight rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Smartsheet presently has a consensus rating of Buy and an average price target of $53.42.

In other Smartsheet news, insider Mark Patrick Mader sold 40,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $44.62, for a total value of $1,784,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Venture Fund L. P. Madrona III sold 5,175,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $43.50, for a total value of $225,112,500.00. The disclosure for this sale can be found here. Insiders have sold 10,935,761 shares of company stock valued at $479,084,355 in the last 90 days. Company insiders own 24.73% 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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