Smartsheet (SMAR) Scheduled to Post Quarterly Earnings on Thursday

Smartsheet (NYSE:SMAR) is set to post its quarterly earnings results after the market closes on Thursday, September 5th. Analysts expect Smartsheet to post earnings of $0.29 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $262.98 million for the quarter, compared to analyst estimates of $258.06 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. On average, analysts expect Smartsheet to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Smartsheet Trading Down 1.8 %

Shares of NYSE:SMAR opened at $48.56 on Thursday. The stock has a fifty day simple moving average of $46.11 and a two-hundred day simple moving average of $42.30. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of -78.32 and a beta of 0.74. Smartsheet has a 12-month low of $35.52 and a 12-month high of $50.38.

Insider Activity

In related news, CFO Pete Godbole sold 7,244 shares of Smartsheet stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $41.22, for a total transaction of $298,597.68. Following the sale, the chief financial officer now owns 30,786 shares of the company’s stock, valued at approximately $1,268,998.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jolene Lau Marshall sold 3,741 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now directly owns 17,100 shares of the company’s stock, valued at approximately $823,878. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Pete Godbole sold 7,244 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $41.22, for a total transaction of $298,597.68. Following the sale, the chief financial officer now directly owns 30,786 shares of the company’s stock, valued at $1,268,998.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,929 shares of company stock valued at $1,446,805. Company insiders own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial reiterated a “buy” rating and set a $55.00 price objective on shares of Smartsheet in a research report on Monday. Morgan Stanley upped their price objective on Smartsheet from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Guggenheim reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Smartsheet in a research note on Tuesday, June 25th. Wells Fargo & Company increased their price target on Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Finally, Barclays increased their price target on Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Smartsheet currently has an average rating of “Moderate Buy” and a consensus price target of $52.12.

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.